Norges Bank Makes New Investment in HealthEquity, Inc. (NASDAQ:HQY)

Norges Bank acquired a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 778,539 shares of the company’s stock, valued at approximately $74,701,000.

Several other hedge funds also recently made changes to their positions in HQY. Wealthfront Advisers LLC acquired a new stake in shares of HealthEquity during the fourth quarter worth $10,304,089,000. Vanguard Group Inc. raised its holdings in HealthEquity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 8,976,091 shares of the company’s stock worth $861,256,000 after buying an additional 99,624 shares during the period. State Street Corp lifted its stake in HealthEquity by 0.8% during the third quarter. State Street Corp now owns 3,131,900 shares of the company’s stock valued at $256,346,000 after buying an additional 23,613 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of HealthEquity by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,078,977 shares of the company’s stock worth $170,197,000 after buying an additional 15,145 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of HealthEquity by 0.7% in the third quarter. Franklin Resources Inc. now owns 1,640,215 shares of the company’s stock worth $139,369,000 after acquiring an additional 11,659 shares in the last quarter. Institutional investors and hedge funds own 99.55% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert W. Selander sold 5,750 shares of the business’s 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 sale, the director now directly owns 78,219 shares in the company, valued at approximately $8,704,992.51. The trade was a 6.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on HQY. Royal Bank of Canada upped their price target on shares of HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group decreased their target price on HealthEquity from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. Wells Fargo & Company upped their price target on HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Mizuho initiated coverage on HealthEquity in a research report on Wednesday, December 4th. They set an “outperform” rating and a $126.00 price objective for the company. Finally, KeyCorp dropped their target price on HealthEquity from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $112.58.

HealthEquity Stock Performance

Shares of HQY opened at $88.74 on Thursday. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. HealthEquity, Inc. has a 12 month low of $65.01 and a 12 month high of $115.59. The company’s fifty day moving average is $102.66 and its 200-day moving average is $96.30. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 81.41, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62.

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.