Covenant Asset Management LLC Has $3.89 Million Stock Position in HealthEquity, Inc. $HQY

Covenant Asset Management LLC lowered its stake in HealthEquity, Inc. (NASDAQ:HQY) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,157 shares of the company’s stock after selling 752 shares during the quarter. Covenant Asset Management LLC’s holdings in HealthEquity were worth $3,893,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in HealthEquity by 232.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 246 shares of the company’s stock valued at $26,000 after acquiring an additional 172 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of HealthEquity in the 1st quarter valued at about $28,000. WPG Advisers LLC bought a new stake in shares of HealthEquity in the first quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of HealthEquity by 176.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 655 shares of the company’s stock valued at $58,000 after purchasing an additional 418 shares in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new position in shares of HealthEquity during the second quarter worth about $58,000. Institutional investors own 99.55% of the company’s stock.

HealthEquity Trading Up 0.4%

NASDAQ HQY opened at $96.53 on Monday. HealthEquity, Inc. has a 12 month low of $74.07 and a 12 month high of $116.65. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $92.60 and a 200-day moving average of $93.91. The company has a market cap of $8.32 billion, a PE ratio of 58.50, a PEG ratio of 1.39 and a beta of 0.50.

Insiders Place Their Bets

In other news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total value of $182,503.62. Following the completion of the transaction, the executive vice president owned 53,225 shares of the company’s stock, valued at $5,414,579.25. This trade represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Delano Ladd sold 6,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $94.11, for a total transaction of $564,660.00. Following the completion of the sale, the executive vice president directly owned 79,456 shares in the company, valued at approximately $7,477,604.16. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HQY shares. Wall Street Zen raised HealthEquity from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Jefferies Financial Group raised their price target on shares of HealthEquity from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. JMP Securities boosted their price objective on shares of HealthEquity from $110.00 to $117.00 and gave the stock a “market outperform” rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their target price on shares of HealthEquity from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of HealthEquity from $98.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, HealthEquity currently has an average rating of “Buy” and an average target price of $119.77.

HealthEquity Company 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.