KLP Kapitalforvaltning AS Takes Position in HealthEquity, Inc. (NASDAQ:HQY)

KLP Kapitalforvaltning AS acquired a new position 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 acquired 21,400 shares of the company’s stock, valued at approximately $2,053,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in shares of HealthEquity during the 4th quarter worth $26,000. Smartleaf Asset Management LLC grew its position in shares of HealthEquity by 34.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock valued at $37,000 after purchasing an additional 98 shares during the period. Proficio Capital Partners LLC acquired a new position in HealthEquity in the fourth quarter valued at $39,000. UMB Bank n.a. lifted its position in HealthEquity by 65.6% during the fourth quarter. UMB Bank n.a. now owns 414 shares of the company’s stock worth $40,000 after buying an additional 164 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in HealthEquity by 1,934.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 468 shares of the company’s stock worth $45,000 after buying an additional 445 shares during the last quarter. Institutional investors and hedge funds own 99.55% of the company’s stock.

HealthEquity Stock Performance

NASDAQ:HQY opened at $88.83 on Friday. HealthEquity, Inc. has a 1-year low of $65.01 and a 1-year high of $115.59. The stock has a market cap of $7.68 billion, a P/E ratio of 81.50, a PEG ratio of 1.60 and a beta of 0.62. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20. The firm has a 50-day moving average of $103.94 and a two-hundred day moving average of $95.84.

Analysts Set New Price Targets

A number of research firms have recently commented on HQY. Wells Fargo & Company upped their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. 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. JMP Securities boosted their price objective on shares of HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group dropped their price objective on HealthEquity from $107.00 to $94.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Raymond James upgraded HealthEquity from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $120.00 to $115.00 in a report on Tuesday. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $112.23.

Insider Transactions at HealthEquity

In other news, Director Robert W. Selander sold 5,750 shares of HealthEquity stock in a transaction that occurred 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 transaction, the director now owns 78,219 shares in the company, valued at approximately $8,704,992.51. This trade represents a 6.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

HealthEquity Company 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.