DAVENPORT & Co LLC Sells 32,224 Shares of HealthEquity, Inc. $HQY

DAVENPORT & Co LLC lessened its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,957 shares of the company’s stock after selling 32,224 shares during the period. DAVENPORT & Co LLC’s holdings in HealthEquity were worth $32,705,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Ieq Capital LLC increased its holdings in shares of HealthEquity by 4.4% during the first quarter. Ieq Capital LLC now owns 2,945 shares of the company’s stock valued at $260,000 after acquiring an additional 123 shares in the last quarter. Xponance Inc. increased its stake in HealthEquity by 1.1% during the 1st quarter. Xponance Inc. now owns 12,412 shares of the company’s stock valued at $1,097,000 after purchasing an additional 136 shares in the last quarter. Fifth Third Bancorp increased its stake in HealthEquity by 17.5% during the 1st quarter. Fifth Third Bancorp now owns 955 shares of the company’s stock valued at $84,000 after purchasing an additional 142 shares in the last quarter. Sheets Smith Wealth Management lifted its stake in shares of HealthEquity by 1.9% in the second quarter. Sheets Smith Wealth Management now owns 8,419 shares of the company’s stock worth $882,000 after buying an additional 157 shares in the last quarter. Finally, AlphaQ Advisors LLC lifted its stake in shares of HealthEquity by 5.1% in the first quarter. AlphaQ Advisors LLC now owns 3,430 shares of the company’s stock worth $303,000 after buying an additional 165 shares in the last quarter. 99.55% of the stock is owned by institutional investors.

HealthEquity Stock Down 1.2%

HQY opened at $88.59 on Monday. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 53.69, a price-to-earnings-growth ratio of 1.27 and a beta of 0.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23. The firm’s fifty day moving average is $92.15 and its 200 day moving average is $93.85. HealthEquity, Inc. has a fifty-two week low of $74.07 and a fifty-two week high of $116.65.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $120.00 price objective (up from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. Weiss Ratings restated a “hold (c+)” rating on shares of HealthEquity in a research note on Saturday, September 27th. Barrington Research reaffirmed an “outperform” rating and set a $125.00 price target on shares of HealthEquity in a report on Friday, August 29th. JPMorgan Chase & Co. increased their price objective on HealthEquity from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Royal Bank Of Canada boosted their target price on HealthEquity from $109.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, HealthEquity currently has an average rating of “Moderate Buy” and a consensus target price of $119.77.

Insiders Place Their Bets

In other HealthEquity news, EVP Delano Ladd sold 6,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $94.11, for a total value of $564,660.00. Following the sale, the executive vice president owned 79,456 shares in the company, valued at $7,477,604.16. The trade was a 7.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

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.