Covea Finance Makes New Investment in HealthEquity, Inc. (NASDAQ:HQY)

Covea Finance purchased a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 18,000 shares of the company’s stock, valued at approximately $1,727,000.

A number of other large investors have also recently modified their holdings of HQY. Paladin Wealth LLC purchased a new stake in HealthEquity in the third quarter valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of HealthEquity in the 2nd quarter worth $73,000. GAMMA Investing LLC raised its position in shares of HealthEquity by 57.8% during the 3rd quarter. GAMMA Investing LLC now owns 939 shares of the company’s stock valued at $77,000 after buying an additional 344 shares in the last quarter. Quarry LP lifted its holdings in shares of HealthEquity by 418.8% during the 3rd quarter. Quarry LP now owns 1,349 shares of the company’s stock worth $110,000 after acquiring an additional 1,089 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in HealthEquity in the third quarter worth $112,000. Institutional investors own 99.55% of the company’s stock.

HealthEquity Stock Performance

Shares of NASDAQ:HQY opened at $103.61 on Wednesday. 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 company has a 50-day moving average price of $98.72 and a 200-day moving average price of $86.30. The company has a market cap 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. HealthEquity, Inc. has a 12 month low of $65.01 and a 12 month high of $105.82.

Insider Buying and Selling at HealthEquity

In related news, Director Robert W. Selander sold 8,250 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,750,591.64. This represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stuart B. Parker sold 25,000 shares of HealthEquity stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $96.72, for a total value of $2,418,000.00. Following the sale, the director now directly owns 19,061 shares in the company, valued at approximately $1,843,579.92. The trade was a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,289 shares of company stock valued at $3,355,718 in the last 90 days. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

HQY has been the topic of a number of research reports. Bank of America raised their price target on HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. BTIG Research raised their price objective on HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada upped their target price on HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Mizuho initiated coverage on shares of HealthEquity in a research note on Wednesday, December 4th. They set an “outperform” rating and a $126.00 price target on the stock. Finally, Barrington Research upped their price objective on shares of HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, HealthEquity currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.71.

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.