Rockport Wealth LLC Acquires New Position in HealthEquity, Inc. (NASDAQ:HQY)

Rockport Wealth LLC acquired a new stake in HealthEquity, Inc. (NASDAQ:HQY) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $960,000. HealthEquity makes up about 0.4% of Rockport Wealth LLC’s holdings, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in HealthEquity by 34.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock valued at $37,000 after buying an additional 98 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in HealthEquity by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 24,200 shares of the company’s stock valued at $2,322,000 after buying an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in HealthEquity by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,776 shares of the company’s stock valued at $1,706,000 after buying an additional 100 shares during the last quarter. State of Michigan Retirement System increased its holdings in HealthEquity by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 20,722 shares of the company’s stock valued at $1,988,000 after buying an additional 100 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in HealthEquity by 4.8% in 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 last quarter. 99.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barrington Research reissued an “outperform” rating and issued a $112.00 price objective on shares of HealthEquity in a report on Friday. Royal Bank of Canada upped their target price on HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Wells Fargo & Company upped their target price on HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Mizuho assumed coverage on HealthEquity in a report on Wednesday, December 4th. They set an “outperform” rating and a $126.00 target price for the company. Finally, Raymond James upped their target price on HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.92.

Insiders Place Their Bets

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $111.29, for a total value of $639,917.50. Following the transaction, the director now owns 78,219 shares of the company’s stock, valued at approximately $8,704,992.51. This represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by insiders.

HealthEquity Stock Performance

HQY opened at $97.41 on Monday. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 89.37, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20. HealthEquity, Inc. has a 1-year low of $65.01 and a 1-year high of $115.59. The business has a 50 day moving average price of $105.68 and a two-hundred day moving average price of $95.35.

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.