Nicholas Investment Partners LP Purchases New Position in HealthEquity, Inc. (NASDAQ:HQY)

Nicholas Investment Partners LP acquired a new position in shares of HealthEquity, Inc. (NASDAQ:HQY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 64,747 shares of the company’s stock, valued at approximately $6,212,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC bought a new stake in shares of HealthEquity in the fourth quarter worth $10,304,089,000. T. Rowe Price Investment Management Inc. acquired a new position in HealthEquity during the 4th quarter worth about $78,107,000. Norges Bank bought a new stake in shares of HealthEquity in the 4th quarter valued at about $74,701,000. Raymond James Financial Inc. acquired a new stake in shares of HealthEquity in the fourth quarter valued at about $45,728,000. Finally, Iron Triangle Partners LP acquired a new stake in shares of HealthEquity in the fourth quarter valued at about $32,202,000. Institutional investors and hedge funds own 99.55% of the company’s stock.

HealthEquity Stock Up 0.3%

Shares of NASDAQ HQY opened at $96.99 on Wednesday. HealthEquity, Inc. has a one year low of $65.01 and a one year high of $115.59. The business’s fifty day moving average price is $87.82 and its 200-day moving average price is $96.81. The stock has a market capitalization of $8.39 billion, a PE ratio of 88.98, a P/E/G ratio of 1.60 and a beta of 0.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20.

Insider Activity at HealthEquity

In other news, EVP Michael Henry Fiore sold 8,881 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $78.26, for a total transaction of $695,027.06. Following the sale, the executive vice president now directly owns 56,655 shares in the company, valued at $4,433,820.30. This represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert W. Selander sold 5,750 shares of the firm’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total transaction of $446,487.50. Following the completion of the transaction, the director now directly owns 84,969 shares of the company’s stock, valued at approximately $6,597,842.85. The trade was a 6.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on HQY shares. Barrington Research reiterated an “outperform” rating and issued a $112.00 target price on shares of HealthEquity in a report on Friday, April 11th. Raymond James raised shares of HealthEquity from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $120.00 to $115.00 in a research note on Tuesday, March 25th. The Goldman Sachs Group decreased their price objective on shares of HealthEquity from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. Wells Fargo & Company boosted their target price on shares of HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, KeyCorp lowered their price objective on HealthEquity from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $111.75.

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.