HealthEquity, Inc. (HQY) Shares Sold by King Luther Capital Management Corp
King Luther Capital Management Corp decreased its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,275 shares of the company’s stock after selling 8,630 shares during the period. King Luther Capital Management Corp owned about 0.18% of HealthEquity worth $5,445,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of HQY. Fifth Third Bancorp lifted its position in shares of HealthEquity by 382.8% during the first quarter. Fifth Third Bancorp now owns 2,414 shares of the company’s stock worth $102,000 after purchasing an additional 1,914 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of HealthEquity during the first quarter worth about $106,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of HealthEquity by 105.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock worth $127,000 after purchasing an additional 1,308 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of HealthEquity by 75.3% during the second quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock worth $131,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Exane Derivatives bought a new position in HealthEquity in the second quarter worth about $132,000. 91.86% of the stock is currently owned by institutional investors and hedge funds.
HQY has been the topic of a number of recent research reports. BidaskClub cut shares of HealthEquity from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research raised shares of HealthEquity from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Wednesday, July 12th. TheStreet raised shares of HealthEquity from a “c” rating to a “b” rating in a report on Monday, July 31st. Cantor Fitzgerald reissued a “buy” rating and issued a $56.00 target price on shares of HealthEquity in a report on Tuesday, September 5th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $61.00 target price (up previously from $57.00) on shares of HealthEquity in a report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $56.50.
In other HealthEquity news, VP Darcy G. Mott sold 9,500 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $42.00, for a total value of $399,000.00. Following the transaction, the vice president now directly owns 84,500 shares in the company, valued at $3,549,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Ashley Dreier sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $45.50, for a total transaction of $455,000.00. Following the completion of the transaction, the vice president now owns 15,652 shares in the company, valued at $712,166. The disclosure for this sale can be found here. In the last three months, insiders sold 1,976,064 shares of company stock worth $100,665,521. 29.00% of the stock is currently owned by insiders.
HealthEquity, Inc. (NASDAQ HQY) opened at 45.12 on Friday. The company has a market cap of $2.71 billion, a PE ratio of 84.81 and a beta of 1.75. HealthEquity, Inc. has a one year low of $30.34 and a one year high of $54.95. The firm has a 50-day moving average of $44.62 and a 200-day moving average of $45.93.
HealthEquity (NASDAQ:HQY) last posted its earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.13. The business had revenue of $56.90 million for the quarter, compared to analysts’ expectations of $55.66 million. HealthEquity had a net margin of 20.27% and a return on equity of 13.93%. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. On average, analysts predict that HealthEquity, Inc. will post $0.71 EPS for the current year.
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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