Verition Fund Management LLC bought a new position in shares of Healthequity Inc (NASDAQ:HQY) during the 2nd quarter, Holdings Channel reports. The fund bought 12,335 shares of the company’s stock, valued at approximately $926,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. increased its position in Healthequity by 414.4% during the 1st quarter. Citigroup Inc. now owns 2,639 shares of the company’s stock worth $160,000 after purchasing an additional 2,126 shares during the period. Advisors Asset Management Inc. increased its position in Healthequity by 5,212.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 72,086 shares of the company’s stock worth $160,000 after purchasing an additional 70,729 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Healthequity during the 2nd quarter worth approximately $179,000. Cim LLC acquired a new position in Healthequity during the 2nd quarter worth approximately $204,000. Finally, S&CO Inc. acquired a new position in Healthequity during the 2nd quarter worth approximately $204,000. Institutional investors own 96.94% of the company’s stock.
In related news, VP Darcy G. Mott sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $92.93, for a total value of $371,720.00. Following the sale, the vice president now owns 96,100 shares of the company’s stock, valued at approximately $8,930,573. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank Medici sold 6,904 shares of the company’s stock in a transaction that occurred on Friday, July 13th. The shares were sold at an average price of $80.40, for a total value of $555,081.60. Following the completion of the sale, the director now directly owns 17,649 shares in the company, valued at approximately $1,418,979.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,500 shares of company stock worth $3,684,201. 4.00% of the stock is owned by corporate insiders.
Healthequity (NASDAQ:HQY) last posted its earnings results on Tuesday, September 4th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. Healthequity had a return on equity of 12.58% and a net margin of 23.81%. The firm had revenue of $71.10 million for the quarter, compared to analyst estimates of $69.84 million. During the same quarter in the prior year, the company earned $0.27 EPS. Healthequity’s revenue was up 25.0% on a year-over-year basis. analysts expect that Healthequity Inc will post 0.87 earnings per share for the current year.
A number of equities research analysts recently weighed in on HQY shares. Barrington Research restated an “outperform” rating and issued a $100.00 price target on shares of Healthequity in a report on Wednesday, September 5th. They noted that the move was a valuation call. KeyCorp upped their price target on Healthequity from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, September 4th. Cantor Fitzgerald cut Healthequity from an “overweight” rating to a “neutral” rating and set a $65.00 price target on the stock. in a report on Wednesday, May 30th. Robert W. Baird upped their price target on Healthequity from $61.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, June 5th. Finally, Zacks Investment Research cut Healthequity from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $93.08.
Healthequity Company Profile
HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.
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