Bamco Inc. NY Sells 50,000 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Bamco Inc. NY cut its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 750,000 shares of the company’s stock after selling 50,000 shares during the quarter. Bamco Inc. NY owned approximately 0.86% of HealthEquity worth $61,388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of HQY. Wasatch Advisors LP raised its position in HealthEquity by 6.6% during the 3rd quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock valued at $635,065,000 after purchasing an additional 483,269 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of HealthEquity in the third quarter valued at about $1,228,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in HealthEquity by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 329,477 shares of the company’s stock worth $26,968,000 after acquiring an additional 6,197 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in HealthEquity by 28.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,526 shares of the company’s stock worth $1,844,000 after acquiring an additional 4,993 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in HealthEquity by 3.9% during the 3rd quarter. Townsquare Capital LLC now owns 22,292 shares of the company’s stock valued at $1,825,000 after purchasing an additional 839 shares during the period. Institutional investors own 99.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on HQY. Deutsche Bank Aktiengesellschaft upped their price target on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group began coverage on HealthEquity in a research report on Friday, November 15th. They set a “neutral” rating and a $108.00 target price on the stock. Barrington Research reissued an “outperform” rating and issued a $105.00 price target on shares of HealthEquity in a research report on Friday, September 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 price objective on shares of HealthEquity in a research report on Wednesday, September 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, HealthEquity has an average rating of “Moderate Buy” and an average target price of $107.23.

Insider Activity

In other news, Director Frank Corvino sold 1,039 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total value of $99,847.90. Following the completion of the transaction, the director now directly owns 3,784 shares in the company, valued at $363,642.40. This trade represents a 21.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert W. Selander sold 8,250 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the sale, the director now owns 54,719 shares in the company, valued at approximately $4,540,582.62. This represents a 13.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,536 shares of company stock valued at $884,517 over the last ninety days. 2.20% of the stock is currently owned by insiders.

HealthEquity Price Performance

Shares of HQY stock opened at $101.54 on Monday. HealthEquity, Inc. has a fifty-two week low of $62.10 and a fifty-two week high of $105.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 84.62, a PEG ratio of 1.59 and a beta of 0.52. The stock’s 50-day simple moving average is $90.16 and its 200-day simple moving average is $82.81.

HealthEquity (NASDAQ:HQY) last released its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.16. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. The company had revenue of $299.93 million for the quarter, compared to the consensus estimate of $284.48 million. As a group, equities analysts forecast that HealthEquity, Inc. will post 2.27 earnings per share for the current fiscal year.

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.