Wellington Management Group LLP Sells 24,666 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Wellington Management Group LLP cut its stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 690,439 shares of the company's stock after selling 24,666 shares during the period. Wellington Management Group LLP owned 0.79% of HealthEquity worth $56,512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HQY. Raymond James Trust N.A. boosted its stake in HealthEquity by 4.8% during the third quarter. Raymond James Trust N.A. now owns 2,905 shares of the company's stock valued at $238,000 after buying an additional 132 shares during the period. Truist Financial Corp raised its holdings in shares of HealthEquity by 7.0% in the 2nd quarter. Truist Financial Corp now owns 2,864 shares of the company's stock valued at $247,000 after acquiring an additional 188 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of HealthEquity by 7.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,854 shares of the company's stock valued at $246,000 after acquiring an additional 198 shares during the last quarter. Elk River Wealth Management LLC grew its holdings in shares of HealthEquity by 0.3% during the third quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company's stock worth $5,417,000 after purchasing an additional 217 shares in the last quarter. Finally, Nicolet Advisory Services LLC increased its position in shares of HealthEquity by 5.8% in the third quarter. Nicolet Advisory Services LLC now owns 4,218 shares of the company's stock worth $330,000 after purchasing an additional 233 shares during the last quarter. 99.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HQY shares. Royal Bank of Canada lifted their target price on shares of HealthEquity from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group initiated coverage on shares of HealthEquity in a report on Friday, November 15th. They set a "neutral" rating and a $108.00 price objective for the company. Barrington Research lifted their price target on shares of HealthEquity from $105.00 to $120.00 and gave the stock an "outperform" rating in a research note on Monday, December 2nd. BTIG Research upped their price objective on shares of HealthEquity from $110.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Mizuho started coverage on shares of HealthEquity in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $126.00 price target for the company. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.71.

Insider Activity

In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the firm's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total value of $684,585.00. Following the transaction, the director now directly owns 54,719 shares of the company's stock, valued at approximately $4,540,582.62. This trade represents a 13.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Corvino sold 1,039 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total transaction of $99,847.90. Following the sale, the director now directly owns 3,784 shares of the company's stock, valued at $363,642.40. The trade was a 21.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,786 shares of company stock valued at $1,722,387 over the last three months. Insiders own 2.20% of the company's stock.

HealthEquity Stock Down 1.6 %

Shares of HQY stock traded down $1.60 during trading hours on Thursday, hitting $95.76. 321,420 shares of the company's stock traded hands, compared to its average volume of 632,811. The stock's fifty day simple moving average is $93.48 and its two-hundred day simple moving average is $84.00. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 81.13, a PEG ratio of 1.57 and a beta of 0.55. HealthEquity, Inc. has a 12-month low of $62.10 and a 12-month high of $105.82.

HealthEquity 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.