HealthEquity (NASDAQ:HQY) Shares Down 3.6% – Here’s Why

HealthEquity, Inc. (NASDAQ:HQY)’s stock price dropped 3.6% during trading on Wednesday . The company traded as low as $97.72 and last traded at $99.85. Approximately 282,589 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 733,649 shares. The stock had previously closed at $103.61.

Wall Street Analyst Weigh In

HQY has been the subject of several recent research reports. BTIG Research lifted their price target on HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Bank of America lifted their target price on HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada increased their price target on HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. The Goldman Sachs Group initiated coverage on shares of HealthEquity in a research note on Friday, November 15th. They set a “neutral” rating and a $108.00 price objective for the company. Finally, JMP Securities increased their target price on shares of HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, HealthEquity presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.71.

HealthEquity Stock Performance

The firm has a 50 day moving average of $98.72 and a 200-day moving average of $86.30. The company has a market cap of $8.66 billion, a P/E ratio of 91.62, a PEG ratio of 1.08 and a beta of 0.54. The company has a quick ratio of 4.10, a current ratio of 3.20 and a debt-to-equity ratio of 0.51.

Insider Transactions at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $101.56, for a total value of $837,870.00. Following the completion of the transaction, the director now directly owns 66,469 shares of the company’s stock, valued at approximately $6,750,591.64. The trade was a 11.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stuart B. Parker sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $96.72, for a total value of $2,418,000.00. Following the sale, the director now directly owns 19,061 shares in the company, valued at approximately $1,843,579.92. The trade was a 56.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,289 shares of company stock valued at $3,355,718. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of HealthEquity

A number of institutional investors have recently modified their holdings of HQY. Avanza Fonder AB bought a new position in shares of HealthEquity during the 4th quarter worth approximately $381,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of HealthEquity during the fourth quarter worth $215,000. Radnor Capital Management LLC increased its position in shares of HealthEquity by 8.3% during the fourth quarter. Radnor Capital Management LLC now owns 5,690 shares of the company’s stock worth $546,000 after purchasing an additional 436 shares in the last quarter. Covea Finance acquired a new stake in shares of HealthEquity in the 4th quarter worth $1,727,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of HealthEquity in the 4th quarter worth $1,452,000. 99.55% of the stock is currently owned by institutional investors.

HealthEquity Company 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.