BTC Capital Management Inc. Sells 695 Shares of HealthEquity, Inc. (NASDAQ:HQY)

BTC Capital Management Inc. cut its position in HealthEquity, Inc. (NASDAQ:HQY) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,550 shares of the company’s stock after selling 695 shares during the quarter. BTC Capital Management Inc.’s holdings in HealthEquity were worth $628,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HQY. KBC Group NV raised its stake in shares of HealthEquity by 56.7% during the 4th quarter. KBC Group NV now owns 3,860 shares of the company’s stock worth $370,000 after acquiring an additional 1,397 shares in the last quarter. Curated Wealth Partners LLC purchased a new position in HealthEquity in the fourth quarter worth $242,000. Exchange Traded Concepts LLC grew its holdings in HealthEquity by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,813 shares of the company’s stock worth $942,000 after purchasing an additional 245 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of HealthEquity by 8.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,352 shares of the company’s stock valued at $514,000 after purchasing an additional 420 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of HealthEquity by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,719 shares of the company’s stock worth $357,000 after purchasing an additional 299 shares in the last quarter. 99.55% of the stock is owned by hedge funds and other institutional investors.

HealthEquity Stock Performance

NASDAQ HQY opened at $110.42 on Friday. The firm has a market capitalization of $9.57 billion, a P/E ratio of 101.30, a PEG ratio of 1.91 and a beta of 0.54. The stock has a 50-day simple moving average of $100.09 and a two-hundred day simple moving average of $88.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. HealthEquity, Inc. has a fifty-two week low of $65.01 and a fifty-two week high of $111.59.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings results on Monday, December 9th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.12). HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. During the same period in the previous year, the firm earned $0.40 EPS. On average, equities analysts forecast that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on HQY. Bank of America upped their target price on HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of HealthEquity in a research report on Friday, November 15th. They issued a “neutral” rating and a $108.00 price objective for the company. BTIG Research lifted their target price on shares of HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Mizuho started coverage on shares of HealthEquity in a report on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 price target for the company. Finally, Barrington Research lifted their price objective on shares of HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.71.

Insider Activity at HealthEquity

In related news, Director Robert W. Selander sold 8,250 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was 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 owns 66,469 shares of the company’s stock, valued at approximately $6,750,591.64. This represents a 11.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Corvino sold 1,039 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total value of $99,847.90. Following the completion of the sale, the director now directly owns 3,784 shares in the company, valued at approximately $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 sold a total of 34,289 shares of company stock worth $3,355,718 in the last three months. Company insiders own 2.20% 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.