Exchange Traded Concepts LLC Purchases 1,414 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Exchange Traded Concepts LLC raised its position in HealthEquity, Inc. (NASDAQ:HQY) by 17.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,568 shares of the company’s stock after purchasing an additional 1,414 shares during the quarter. Exchange Traded Concepts LLC’s holdings in HealthEquity were worth $783,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HQY. Rise Advisors LLC bought a new stake in shares of HealthEquity in the first quarter worth $28,000. International Assets Investment Management LLC acquired a new position in HealthEquity during the 2nd quarter worth about $35,000. Fidelis Capital Partners LLC bought a new stake in shares of HealthEquity in the 1st quarter valued at about $42,000. GAMMA Investing LLC increased its stake in shares of HealthEquity by 114.8% in the second quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock valued at $51,000 after buying an additional 318 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HealthEquity in the second quarter worth approximately $73,000. 99.55% of the stock is owned by institutional investors and hedge funds.

HealthEquity Price Performance

Shares of HQY opened at $88.00 on Friday. The business’s fifty day moving average is $78.42 and its 200 day moving average is $79.43. HealthEquity, Inc. has a 12-month low of $61.81 and a 12-month high of $88.59. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51. The stock has a market cap of $7.66 billion, a P/E ratio of 95.65, a P/E/G ratio of 1.31 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. The firm had revenue of $299.93 million for the quarter, compared to analyst estimates of $284.48 million. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. Sell-side analysts anticipate that HealthEquity, Inc. will post 2.27 earnings per share for the current fiscal year.

Insider Transactions at HealthEquity

In related news, Director Frank Corvino sold 1,247 shares of HealthEquity stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $80.26, for a total transaction of $100,084.22. Following the transaction, the director now owns 4,823 shares of the company’s stock, valued at $387,093.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Frank Corvino sold 1,247 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total transaction of $100,084.22. Following the transaction, the director now directly owns 4,823 shares of the company’s stock, valued at $387,093.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Stephen Neeleman sold 35,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $79.86, for a total transaction of $2,795,100.00. Following the completion of the sale, the insider now directly owns 89,769 shares of the company’s stock, valued at $7,168,952.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,497 shares of company stock valued at $3,579,769 over the last ninety days. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on HQY shares. Bank of America decreased their target price on shares of HealthEquity from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Barrington Research restated an “outperform” rating and issued a $105.00 target price on shares of HealthEquity in a report on Friday, September 20th. Wells Fargo & Company increased their price target on HealthEquity from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $103.83.

HealthEquity Profile

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.