HealthEquity (NASDAQ:HQY) Trading Down 3.6% - Here's What Happened

HealthEquity, Inc. (NASDAQ:HQY - Get Free Report) shares dropped 3.6% on Wednesday . The company traded as low as $97.72 and last traded at $99.85. Approximately 282,589 shares were traded during 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

Several brokerages recently issued reports on HQY. Barrington Research upped their price objective on shares of HealthEquity from $105.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, December 2nd. Mizuho began coverage on HealthEquity in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $126.00 price target for the company. 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. Bank of America boosted their price objective on HealthEquity from $100.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, 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 note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, HealthEquity has a consensus rating of "Moderate Buy" and a consensus target price of $110.71.

HealthEquity Trading Down 2.8 %

The company has a market cap of $8.72 billion, a PE ratio of 92.35, a price-to-earnings-growth ratio of 1.08 and a beta of 0.54. The company's 50 day simple moving average is $98.72 and its two-hundred day simple moving average is $86.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 4.10.

Insider Buying and Selling

In related news, Director Robert W. Selander sold 8,250 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $101.56, for a total transaction of $837,870.00. Following the transaction, the director now owns 66,469 shares of the company's stock, valued at approximately $6,750,591.64. This represents a 11.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stuart B. Parker sold 25,000 shares of HealthEquity 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 completion of the transaction, the director now directly owns 19,061 shares of the company's stock, valued at approximately $1,843,579.92. This represents a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,289 shares of company stock valued at $3,355,718. Company insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On HealthEquity

Several large investors have recently added to or reduced their stakes in the business. Paladin Wealth LLC acquired a new position in shares of HealthEquity in the third quarter worth $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in HealthEquity in the second quarter valued at $73,000. GAMMA Investing LLC boosted its holdings in HealthEquity by 57.8% in the third quarter. GAMMA Investing LLC now owns 939 shares of the company's stock valued at $77,000 after purchasing an additional 344 shares during the period. Quarry LP grew its stake in HealthEquity by 418.8% during the 3rd quarter. Quarry LP now owns 1,349 shares of the company's stock worth $110,000 after purchasing an additional 1,089 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in HealthEquity during the 3rd quarter worth about $112,000. 99.55% of the stock is owned by hedge funds and other 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.