Covenant Asset Management LLC Sells 752 Shares of HealthEquity, Inc. $HQY

Covenant Asset Management LLC cut its stake in HealthEquity, Inc. (NASDAQ:HQY) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Invesco Ltd. grew its stake in HealthEquity by 50.6% in the 1st quarter. Invesco Ltd. now owns 2,446,198 shares of the company’s stock valued at $216,171,000 after buying an additional 821,425 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of HealthEquity by 1.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,133,166 shares of the company’s stock worth $100,138,000 after acquiring an additional 15,458 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of HealthEquity by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,100,970 shares of the company’s stock worth $97,293,000 after acquiring an additional 14,159 shares during the period. Stephens Investment Management Group LLC grew its position in shares of HealthEquity by 1.8% in the first quarter. Stephens Investment Management Group LLC now owns 1,069,446 shares of the company’s stock valued at $94,507,000 after purchasing an additional 19,009 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of HealthEquity by 24.9% during the first quarter. Wellington Management Group LLP now owns 848,940 shares of the company’s stock worth $75,021,000 after purchasing an additional 169,337 shares during the period. Institutional investors and hedge funds own 99.55% of the company’s stock.

HealthEquity Stock Up 0.4%

Shares of NASDAQ HQY opened at $96.53 on Monday. The stock has a market capitalization of $8.32 billion, a P/E ratio of 58.50, a PEG ratio of 1.39 and a beta of 0.50. The stock’s fifty day moving average is $92.60 and its 200 day moving average is $93.91. HealthEquity, Inc. has a 52 week low of $74.07 and a 52 week high of $116.65. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23.

Insider Activity at HealthEquity

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HQY shares. Raymond James Financial restated a “strong-buy” rating and issued a $120.00 price target (up from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. Jefferies Financial Group lifted their target price on HealthEquity from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of HealthEquity from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Bank of America raised their price target on shares of HealthEquity from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, Barrington Research reiterated an “outperform” rating and issued a $125.00 price objective on shares of HealthEquity in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, HealthEquity has a consensus rating of “Buy” and a consensus price target of $119.77.

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.