Iron Gate Global Advisors LLC Has $2.06 Million Stake in HealthEquity, Inc. (NASDAQ:HQY)

Iron Gate Global Advisors LLC lessened its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 6.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,218 shares of the company’s stock after selling 1,702 shares during the quarter. HealthEquity comprises about 0.3% of Iron Gate Global Advisors LLC’s portfolio, making the stock its 29th largest holding. Iron Gate Global Advisors LLC’s holdings in HealthEquity were worth $2,064,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Raymond James Trust N.A. raised its stake in shares of HealthEquity by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 2,905 shares of the company’s stock worth $238,000 after purchasing an additional 132 shares during the period. Truist Financial Corp lifted its position in HealthEquity by 7.0% in the 2nd quarter. Truist Financial Corp now owns 2,864 shares of the company’s stock valued at $247,000 after acquiring an additional 188 shares in the last quarter. Nisa Investment Advisors LLC grew its position in HealthEquity by 7.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,854 shares of the company’s stock valued at $246,000 after buying an additional 198 shares during the period. Elk River Wealth Management LLC lifted its holdings in HealthEquity by 0.3% in the 3rd quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company’s stock worth $5,417,000 after purchasing an additional 217 shares in the last quarter. Finally, Nicolet Advisory Services LLC increased its stake in HealthEquity by 5.8% during the third quarter. Nicolet Advisory Services LLC now owns 4,218 shares of the company’s stock worth $330,000 after acquiring an additional 233 shares during the last quarter. Institutional investors own 99.55% of the company’s stock.

Insider Activity

In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the completion of the transaction, the director now directly owns 54,719 shares in the company, valued at $4,540,582.62. The trade was a 13.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Corvino sold 1,039 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total transaction of $99,847.90. Following the sale, the director now directly owns 3,784 shares of the company’s stock, valued at approximately $363,642.40. This trade represents a 21.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,536 shares of company stock worth $884,517. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HQY. The Goldman Sachs Group began coverage on HealthEquity in a research report on Friday, November 15th. They set a “neutral” rating and a $108.00 price target for the company. BTIG Research boosted their price target on HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Barrington Research raised their price target on shares of HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price target on shares of HealthEquity in a research note on Wednesday, September 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $105.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, HealthEquity has an average rating of “Moderate Buy” and an average price target of $108.38.

HealthEquity Price Performance

Shares of NASDAQ:HQY opened at $101.66 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 84.72, a price-to-earnings-growth ratio of 1.59 and a beta of 0.55. The business’s 50 day simple moving average is $90.61 and its 200-day simple moving average is $83.02. HealthEquity, Inc. has a 12 month low of $62.10 and a 12 month high of $105.82.

HealthEquity (NASDAQ:HQY) last announced its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. The firm had revenue of $299.93 million during the quarter, compared to analyst estimates of $284.48 million. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. As a group, equities analysts forecast that HealthEquity, Inc. will post 2.27 earnings per share for the current fiscal year.

HealthEquity 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.