RiverPark Advisors LLC Makes New $230,000 Investment in HealthEquity, Inc. (NASDAQ:HQY)

RiverPark Advisors LLC bought a new position in HealthEquity, Inc. (NASDAQ:HQY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,814 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in HQY. International Assets Investment Management LLC bought a new position in HealthEquity during the second quarter valued at approximately $35,000. Paladin Wealth LLC bought a new position in HealthEquity during the third quarter valued at approximately $39,000. GAMMA Investing LLC grew its holdings in HealthEquity by 114.8% during the second quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock valued at $51,000 after purchasing an additional 318 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in HealthEquity during the second quarter valued at approximately $73,000. Finally, 1620 Investment Advisors Inc. acquired a new position in HealthEquity during the third quarter valued at approximately $112,000. 99.55% of the stock is currently owned by institutional investors and hedge funds.

HealthEquity Stock Up 3.4 %

HQY opened at $98.98 on Friday. HealthEquity, Inc. has a fifty-two week low of $62.10 and a fifty-two week high of $101.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. The firm’s fifty day moving average price is $85.02 and its two-hundred day moving average price is $81.08. The company has a market capitalization of $8.64 billion, a P/E ratio of 82.48, a P/E/G ratio of 1.55 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.16. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. The firm had revenue of $299.93 million for the quarter, compared to the consensus estimate of $284.48 million. On average, analysts anticipate that HealthEquity, Inc. will post 2.27 EPS for the current year.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of HealthEquity stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Corvino sold 1,039 shares of HealthEquity stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total value of $99,847.90. Following the transaction, the director now directly owns 3,784 shares of the company’s stock, valued at approximately $363,642.40. The trade was a 21.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on HQY. The Goldman Sachs Group began coverage on HealthEquity in a report on Friday. They set a “neutral” rating and a $108.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price target on HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Bank of America increased their price target on HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 price objective on shares of HealthEquity in a research note on Wednesday, September 4th. Finally, JMP Securities restated a “market outperform” rating and issued a $105.00 price objective on shares of HealthEquity in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, HealthEquity presently has an average rating of “Moderate Buy” and an average target price of $107.23.

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.