HealthEquity, Inc. (NASDAQ:HQY) Position Increased by Arizona State Retirement System

Posted by on May 12th, 2023

Arizona State Retirement System raised its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY – Get Rating) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,806 shares of the company’s stock after purchasing an additional 880 shares during the period. Arizona State Retirement System’s holdings in HealthEquity were worth $1,467,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in HealthEquity by 4.0% during the first quarter. BlackRock Inc. now owns 9,423,008 shares of the company’s stock valued at $635,488,000 after purchasing an additional 358,743 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of HealthEquity by 0.4% during the third quarter. Vanguard Group Inc. now owns 8,173,889 shares of the company’s stock valued at $549,041,000 after acquiring an additional 31,009 shares during the period. Wasatch Advisors Inc. boosted its holdings in shares of HealthEquity by 3.3% during the first quarter. Wasatch Advisors Inc. now owns 7,638,935 shares of the company’s stock valued at $515,170,000 after acquiring an additional 244,868 shares during the period. State Street Corp boosted its holdings in shares of HealthEquity by 2.8% during the third quarter. State Street Corp now owns 2,671,946 shares of the company’s stock valued at $179,475,000 after acquiring an additional 74,035 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of HealthEquity by 12.7% during the third quarter. Brown Advisory Inc. now owns 2,059,396 shares of the company’s stock valued at $138,330,000 after acquiring an additional 232,691 shares during the period. Institutional investors own 99.54% of the company’s stock.

HealthEquity Price Performance

Shares of HealthEquity stock opened at $54.88 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $57.29 and its two-hundred day moving average price is $61.61. HealthEquity, Inc. has a 52 week low of $48.86 and a 52 week high of $79.20. The stock has a market cap of $4.65 billion, a PE ratio of -177.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.79.

Analyst Upgrades and Downgrades

HQY has been the subject of several analyst reports. Wells Fargo & Company reduced their price target on shares of HealthEquity from $101.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of HealthEquity in a report on Wednesday, March 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of HealthEquity from $72.00 to $69.00 and set a “buy” rating for the company in a report on Friday, March 24th. Finally, StockNews.com started coverage on shares of HealthEquity in a report on Thursday, March 16th. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.91.

About HealthEquity

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HealthEquity, Inc engages in the provision of technology-enabled services for healthcare and spending decisions. The company was founded by Stephen D. Neeleman on September 18, 2002 and is headquartered in Draper, UT.

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Institutional Ownership by Quarter for HealthEquity (NASDAQ:HQY)

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