Principal Financial Group Inc. Sells 95,161 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Principal Financial Group Inc. cut its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 28.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242,405 shares of the company's stock after selling 95,161 shares during the period. Principal Financial Group Inc. owned 0.28% of HealthEquity worth $19,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Raymond James Trust N.A. grew its stake in shares of HealthEquity by 4.8% during the third quarter. Raymond James Trust N.A. now owns 2,905 shares of the company's stock worth $238,000 after purchasing an additional 132 shares during the period. Truist Financial Corp grew its position in shares of HealthEquity by 7.0% during the 2nd quarter. Truist Financial Corp now owns 2,864 shares of the company's stock worth $247,000 after buying an additional 188 shares during the period. Elk River Wealth Management LLC grew its position in shares of HealthEquity by 0.3% during the 3rd quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company's stock worth $5,417,000 after buying an additional 217 shares during the period. Nicolet Advisory Services LLC increased its stake in shares of HealthEquity by 5.8% in the 3rd quarter. Nicolet Advisory Services LLC now owns 4,218 shares of the company's stock valued at $330,000 after acquiring an additional 233 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of HealthEquity by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,314 shares of the company's stock valued at $1,090,000 after acquiring an additional 303 shares during the period. Institutional investors own 99.55% of the company's stock.

HealthEquity Stock Down 1.1 %

Shares of NASDAQ HQY traded down $1.11 during mid-day trading on Friday, hitting $96.30. The company had a trading volume of 377,403 shares, compared to its average volume of 644,412. 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 firm has a 50-day simple moving average of $95.82 and a two-hundred day simple moving average of $84.97. The company has a market capitalization of $8.35 billion, a PE ratio of 88.35, a price-to-earnings-growth ratio of 1.10 and a beta of 0.55. HealthEquity, Inc. has a one year low of $65.01 and a one year high of $105.82.

Analyst Ratings Changes

A number of brokerages recently issued reports on HQY. Mizuho started coverage on shares of HealthEquity in a report on Wednesday, December 4th. They set an "outperform" rating and a $126.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of HealthEquity in a report on Friday, November 15th. They issued a "neutral" rating and a $108.00 price target for the company. JMP Securities raised their price objective on HealthEquity from $105.00 to $107.00 and gave the stock a "market outperform" rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lifted their target price on HealthEquity from $102.00 to $103.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Finally, BTIG Research raised 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. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $110.71.

Insider Activity at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of HealthEquity stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total transaction of $684,585.00. Following the completion of the transaction, the director now directly owns 54,719 shares in the company, valued at approximately $4,540,582.62. The trade was a 13.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Corvino sold 1,247 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total value of $100,084.22. Following the completion of the sale, the director now owns 4,823 shares in the company, valued at approximately $387,093.98. This trade represents a 20.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,786 shares of company stock valued at $4,140,387. Insiders own 2.20% of the company's stock.

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.