HealthEquity (NASDAQ:HQY) Shares Gap Down - Here's What Happened

HealthEquity, Inc. (NASDAQ:HQY - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $101.67, but opened at $85.00. HealthEquity shares last traded at $82.74, with a volume of 1,085,175 shares.

Analysts Set New Price Targets

Several brokerages recently commented on HQY. Royal Bank of Canada raised their price objective on HealthEquity from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Wells Fargo & Company raised their price objective on HealthEquity from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Barrington Research reissued an "outperform" rating and issued a $112.00 price target on shares of HealthEquity in a research note on Friday, March 14th. JMP Securities lifted their price target on HealthEquity from $105.00 to $107.00 and gave the company a "market outperform" rating in a research note on Tuesday, December 10th. Finally, Raymond James lifted their price target on HealthEquity from $105.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $112.92.

HealthEquity Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20. The business has a 50-day moving average of $104.90 and a 200-day moving average of $95.76. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 77.87, a P/E/G ratio of 1.60 and a beta of 0.62.

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Insider Activity at HealthEquity

In related news, Director Robert W. Selander sold 5,750 shares of HealthEquity stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $111.29, for a total value of $639,917.50. Following the sale, the director now owns 78,219 shares of the company's stock, valued at approximately $8,704,992.51. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Trading of HealthEquity

Hedge funds and other institutional investors have recently modified their holdings of the stock. Holocene Advisors LP bought a new position in HealthEquity during the third quarter worth about $1,246,000. Loomis Sayles & Co. L P grew its holdings in HealthEquity by 2.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,126,645 shares of the company's stock worth $92,216,000 after purchasing an additional 24,665 shares during the period. HighTower Advisors LLC grew its holdings in HealthEquity by 4.8% during the fourth quarter. HighTower Advisors LLC now owns 95,075 shares of the company's stock worth $9,122,000 after purchasing an additional 4,370 shares during the period. Geneva Capital Management LLC grew its holdings in HealthEquity by 24.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,048,903 shares of the company's stock worth $100,642,000 after purchasing an additional 206,894 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in HealthEquity by 165.7% during the third quarter. BNP Paribas Financial Markets now owns 20,437 shares of the company's stock worth $1,673,000 after purchasing an additional 12,745 shares during the period. Institutional investors and hedge funds own 99.55% of the company's stock.

About HealthEquity

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.