Elevation Point Wealth Partners LLC Invests $488,000 in HealthEquity, Inc. $HQY

Elevation Point Wealth Partners LLC bought a new position in HealthEquity, Inc. (NASDAQ:HQY) during the first quarter, HoldingsChannel reports. The fund bought 5,836 shares of the company’s stock, valued at approximately $488,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Fulton Bank N.A. lifted its holdings in HealthEquity by 27.0% during the first quarter. Fulton Bank N.A. now owns 6,526 shares of the company’s stock valued at $545,000 after purchasing an additional 1,389 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in HealthEquity by 16.1% during the 1st quarter. Peregrine Capital Management LLC now owns 126,231 shares of the company’s stock valued at $10,549,000 after buying an additional 17,478 shares in the last quarter. Inspire Investing LLC raised its position in shares of HealthEquity by 13.0% during the first quarter. Inspire Investing LLC now owns 4,095 shares of the company’s stock valued at $342,000 after buying an additional 472 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of HealthEquity by 8.9% during the first quarter. Pictet Asset Management Holding SA now owns 13,440 shares of the company’s stock valued at $1,123,000 after buying an additional 1,100 shares during the last quarter. Finally, Maridea Wealth Management LLC lifted its holdings in shares of HealthEquity by 40.1% in the first quarter. Maridea Wealth Management LLC now owns 29,272 shares of the company’s stock worth $2,446,000 after buying an additional 8,379 shares in the last quarter. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HealthEquity news, Director Gayle Furgurson Wellborn sold 2,439 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $90.00, for a total value of $219,510.00. Following the completion of the sale, the director directly owned 19,733 shares of the company’s stock, valued at $1,775,970. The trade was a 11.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Delano Ladd sold 7,500 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $90.00, for a total transaction of $675,000.00. Following the completion of the transaction, the executive vice president owned 91,141 shares in the company, valued at $8,202,690. This represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,551 shares of company stock valued at $1,427,650 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. KeyCorp restated an “overweight” rating on shares of HealthEquity in a research report on Tuesday, May 26th. Citizens Jmp boosted their price target on shares of HealthEquity from $110.00 to $111.00 and gave the stock a “market outperform” rating in a research note on Monday, June 1st. Barrington Research reiterated an “outperform” rating and issued a $110.00 price target on shares of HealthEquity in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of HealthEquity from $120.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Finally, Weiss Ratings upgraded HealthEquity from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 5th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, HealthEquity presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.57.

HealthEquity Stock Performance

HealthEquity stock opened at $94.73 on Thursday. The company’s 50-day moving average price is $86.93 and its 200-day moving average price is $84.60. HealthEquity, Inc. has a twelve month low of $72.76 and a twelve month high of $105.96. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.46. The company has a market cap of $7.92 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 1.63 and a beta of 0.21.

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

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.