Covea Finance Invests $1.73 Million in HealthEquity, Inc. (NASDAQ:HQY)

Covea Finance purchased a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 18,000 shares of the company’s stock, valued at approximately $1,727,000.

Several other hedge funds have also bought and sold shares of the business. Wasatch Advisors LP raised its position in shares of HealthEquity by 6.6% in the 3rd quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock worth $635,065,000 after purchasing an additional 483,269 shares during the last quarter. State Street Corp lifted its stake in shares of HealthEquity by 0.8% in the third quarter. State Street Corp now owns 3,131,900 shares of the company’s stock worth $256,346,000 after buying an additional 23,613 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of HealthEquity by 1.9% during the second quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after acquiring an additional 43,491 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of HealthEquity by 16.0% during the second quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock valued at $203,822,000 after acquiring an additional 325,906 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in HealthEquity by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,078,977 shares of the company’s stock worth $170,197,000 after acquiring an additional 15,145 shares during the last quarter. Institutional investors own 99.55% of the company’s stock.

HealthEquity Stock Performance

Shares of NASDAQ HQY opened at $103.61 on Wednesday. HealthEquity, Inc. has a 12-month low of $65.01 and a 12-month high of $105.82. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 95.06, a price-to-earnings-growth ratio of 1.08 and a beta of 0.54. The company has a current ratio of 3.20, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $98.72 and a 200 day moving average of $86.30.

Wall Street Analyst Weigh In

A number of analysts have commented on HQY shares. BTIG Research lifted their target price on HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada lifted their price objective on HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. The Goldman Sachs Group started coverage on HealthEquity in a research report on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price for the company. Mizuho started coverage on shares of HealthEquity in a report on Wednesday, December 4th. They set an “outperform” rating and a $126.00 price target on the stock. Finally, JMP Securities boosted their price objective on shares of HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, HealthEquity has an average rating of “Moderate Buy” and a consensus target price of $110.71.

Insider Transactions at HealthEquity

In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $101.56, for a total value of $837,870.00. Following the completion of the transaction, the director now directly owns 66,469 shares in the company, valued at $6,750,591.64. This represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Corvino sold 1,039 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total transaction of $99,847.90. Following the sale, the director now owns 3,784 shares in the company, valued at $363,642.40. The trade was a 21.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,289 shares of company stock worth $3,355,718 in the last 90 days. 2.20% of the stock is currently owned by insiders.

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.