HealthEquity (NASDAQ:HQY) Shares Gap Down – Here’s What Happened

HealthEquity, Inc. (NASDAQ:HQY) gapped down prior to trading on Wednesday . The stock had previously closed at $101.67, but opened at $85.00. HealthEquity shares last traded at $82.74, with a volume of 1,085,175 shares traded.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HQY shares. Barrington Research reiterated an “outperform” rating and issued a $112.00 price objective on shares of HealthEquity in a report on Friday, March 14th. JMP Securities increased their price objective on HealthEquity from $105.00 to $107.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Wells Fargo & Company increased their price objective on HealthEquity from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Raymond James increased their price objective on HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Finally, Mizuho initiated coverage on HealthEquity in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 target price for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.92.

HealthEquity Trading Down 20.4 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. The company has a market cap of $7.01 billion, a P/E ratio of 73.99, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. The stock has a 50-day moving average of $105.82 and a two-hundred day moving average of $95.67.

Insiders Place Their Bets

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of HealthEquity stock in a transaction on Monday, February 10th. The stock was sold at an average price of $111.29, for a total value of $639,917.50. Following the completion of the sale, the director now owns 78,219 shares of the company’s stock, valued at approximately $8,704,992.51. This trade represents a 6.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of HealthEquity

Institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its stake in shares of HealthEquity by 0.3% in the 4th quarter. Ameritas Investment Partners Inc. now owns 33,856 shares of the company’s stock worth $3,248,000 after buying an additional 88 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of HealthEquity by 34.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock worth $37,000 after buying an additional 98 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of HealthEquity by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 24,200 shares of the company’s stock worth $2,322,000 after buying an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of HealthEquity by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 17,776 shares of the company’s stock worth $1,706,000 after buying an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of HealthEquity by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 20,722 shares of the company’s stock worth $1,988,000 after buying an additional 100 shares during the last quarter. Institutional investors own 99.55% 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.