Castleark Management LLC Invests $11.54 Million in HealthEquity, Inc. $HQY

Castleark Management LLC acquired a new position in shares of HealthEquity, Inc. (NASDAQ:HQY) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 127,770 shares of the company’s stock, valued at approximately $11,540,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HQY. BlackRock Inc. acquired a new position in shares of HealthEquity in the second quarter worth $1,018,621,000. William Blair Investment Management LLC acquired a new stake in shares of HealthEquity during the fourth quarter valued at $169,956,000. Wasatch Advisors LP increased its position in HealthEquity by 10.5% during the 2nd quarter. Wasatch Advisors LP now owns 7,960,735 shares of the company’s stock worth $719,014,000 after purchasing an additional 757,801 shares in the last quarter. Norges Bank purchased a new stake in HealthEquity during the 4th quarter worth about $66,927,000. Finally, Bank of New York Mellon Corp acquired a new position in HealthEquity in the 2nd quarter valued at about $60,177,000. Hedge funds and other institutional investors own 99.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on HQY. Royal Bank Of Canada upped their target price on shares of HealthEquity from $100.00 to $108.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Wells Fargo & Company set a $111.00 price objective on shares of HealthEquity in a research report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of HealthEquity in a research note on Monday, June 1st. KeyCorp restated an “overweight” rating on shares of HealthEquity in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of HealthEquity from a “hold” rating to a “buy” rating in a research note on Saturday. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, HealthEquity has an average rating of “Moderate Buy” and an average target price of $110.93.

HealthEquity Trading Down 0.0%

NASDAQ HQY opened at $105.39 on Wednesday. The company has a market cap of $8.81 billion, a P/E ratio of 39.47, a P/E/G ratio of 1.77 and a beta of 0.21. HealthEquity, Inc. has a 12 month low of $72.76 and a 12 month high of $107.62. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.44 and a quick ratio of 3.44. The company has a 50-day moving average of $97.41 and a 200-day moving average of $87.53.

HealthEquity (NASDAQ:HQY) last released its earnings results on Thursday, May 28th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.13. HealthEquity had a net margin of 17.25% and a return on equity of 14.75%. The business had revenue of $354.64 million for the quarter, compared to analysts’ expectations of $352.02 million. HealthEquity’s quarterly revenue was up 7.2% compared to the same quarter last year. HealthEquity has set its FY 2027 guidance at 2.880-2.950 EPS. As a group, equities analysts predict that HealthEquity, Inc. will post 3.92 earnings per share for the current year.

Insider Activity at HealthEquity

In related news, EVP Delano Ladd sold 7,500 shares of HealthEquity stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $90.00, for a total value of $675,000.00. Following the transaction, the executive vice president owned 91,141 shares in the company, valued at approximately $8,202,690. This trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Henry Fiore sold 3,142 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $95.00, for a total value of $298,490.00. Following the sale, the executive vice president directly owned 59,113 shares of the company’s stock, valued at approximately $5,615,735. This trade represents a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 17,905 shares of company stock worth $1,651,280. 1.60% of the stock is owned by insiders.

About HealthEquity

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.