Covea Finance Buys Shares of 18,000 HealthEquity, Inc. (NASDAQ:HQY)

Covea Finance acquired a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,000 shares of the company's stock, valued at approximately $1,727,000.

Several other hedge funds also recently made changes to their positions in HQY. Paladin Wealth LLC purchased a new position in HealthEquity in the 3rd quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HealthEquity in the second quarter worth about $73,000. GAMMA Investing LLC increased its position in shares of HealthEquity by 57.8% in the third quarter. GAMMA Investing LLC now owns 939 shares of the company's stock worth $77,000 after acquiring an additional 344 shares in the last quarter. Quarry LP raised its holdings in shares of HealthEquity by 418.8% during the third quarter. Quarry LP now owns 1,349 shares of the company's stock valued at $110,000 after acquiring an additional 1,089 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of HealthEquity in the 3rd quarter valued at approximately $112,000. Institutional investors and hedge funds own 99.55% of the company's stock.

Analysts Set New Price Targets

HQY has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of HealthEquity in a research report on Friday, November 15th. They set a "neutral" rating and a $108.00 price objective on the stock. JMP Securities raised their target price on HealthEquity from $105.00 to $107.00 and gave the stock a "market outperform" rating in a research report on Tuesday, December 10th. Royal Bank of Canada upped their price target on HealthEquity from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Mizuho assumed coverage on HealthEquity in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $126.00 price objective for the company. Finally, Bank of America lifted their target price on HealthEquity from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $110.71.

Insider Activity

In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $101.56, for a total transaction of $837,870.00. Following the completion of the sale, the director now owns 66,469 shares of the company's stock, valued at $6,750,591.64. This represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stuart B. Parker sold 25,000 shares of HealthEquity stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $96.72, for a total transaction of $2,418,000.00. Following the completion of the transaction, the director now directly owns 19,061 shares in the company, valued at approximately $1,843,579.92. This represents 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 worth $3,355,718. 2.20% of the stock is owned by corporate insiders.

HealthEquity Stock Down 2.8 %

NASDAQ HQY traded down $2.95 during trading on Wednesday, reaching $100.66. The company's stock had a trading volume of 909,603 shares, compared to its average volume of 813,134. The company has a current ratio of 3.20, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $8.72 billion, a PE ratio of 92.35, a PEG ratio of 1.08 and a beta of 0.54. HealthEquity, Inc. has a 1-year low of $65.01 and a 1-year high of $105.82. The business has a 50-day moving average price of $98.72 and a 200-day moving average price of $86.30.

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.