HealthEquity, Inc. (NASDAQ:HQY) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 17.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,215,321 shares of the company's stock after selling 252,244 shares during the quarter. JPMorgan Chase & Co. owned 1.40% of HealthEquity worth $99,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HQY. International Assets Investment Management LLC purchased a new position in HealthEquity in the second quarter worth approximately $35,000. Paladin Wealth LLC purchased a new stake in shares of HealthEquity during the 3rd quarter worth $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HealthEquity during the second quarter worth $73,000. GAMMA Investing LLC increased 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 buying an additional 344 shares during the last quarter. Finally, Quarry LP increased its holdings in HealthEquity by 418.8% in the third quarter. Quarry LP now owns 1,349 shares of the company's stock valued at $110,000 after buying an additional 1,089 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company's stock.

Insider Buying and Selling

In related news, Director Frank Corvino sold 1,039 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total value of $99,847.90. Following the completion of the sale, the director now owns 3,784 shares in the company, valued at $363,642.40. This trade represents a 21.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Selander sold 8,250 shares of the business'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 value of $837,870.00. Following the transaction, the director now owns 66,469 shares in the company, valued at $6,750,591.64. The trade was a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,539 shares of company stock valued at $4,040,303 over the last three months. 2.20% of the stock is currently owned by company insiders.

HealthEquity Stock Performance

HQY stock traded up $0.66 during trading on Friday, hitting $97.47. The company had a trading volume of 455,451 shares, compared to its average volume of 461,626. The firm has a 50-day moving average price of $96.88 and a 200-day moving average price of $85.47. The company has a quick ratio of 4.10, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. The firm has a market cap of $8.45 billion, a PE ratio of 89.42, a price-to-earnings-growth ratio of 1.08 and a beta of 0.55. HealthEquity, Inc. has a 1-year low of $65.01 and a 1-year high of $105.82.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HQY. Royal Bank of Canada upped their price objective on HealthEquity from $100.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Bank of America upped their price target on HealthEquity from $100.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Barrington Research increased their price target 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. JMP Securities boosted their price objective on shares of HealthEquity from $105.00 to $107.00 and gave the stock a "market outperform" rating in a research report on Tuesday, December 10th. Finally, Mizuho initiated coverage on shares of HealthEquity in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $126.00 target price on the stock. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, HealthEquity currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.71.

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.