HealthEquity, Inc. (NASDAQ:HQY) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY) by 9.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 47,174 shares of the company’s stock after selling 5,056 shares during the period. M&T Bank Corp’s holdings in HealthEquity were worth $3,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. acquired a new position in HealthEquity during the 4th quarter worth $29,000. DekaBank Deutsche Girozentrale bought a new stake in shares of HealthEquity during the third quarter valued at about $41,000. Fifth Third Bancorp lifted its holdings in HealthEquity by 36.5% in the third quarter. Fifth Third Bancorp now owns 602 shares of the company’s stock worth $44,000 after purchasing an additional 161 shares during the period. Operose Advisors LLC bought a new position in HealthEquity in the 3rd quarter valued at about $44,000. Finally, Covestor Ltd grew its position in HealthEquity by 92.9% in the 3rd quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $82,000 after buying an additional 539 shares in the last quarter. 99.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HQY shares. KeyCorp upped their price target on shares of HealthEquity from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. JMP Securities assumed coverage on HealthEquity in a research report on Thursday, April 4th. They issued a “mkt outperform” rating and a $101.00 target price for the company. BTIG Research lifted their price target on HealthEquity from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada upped their price objective on HealthEquity from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Bank of America lifted their target price on HealthEquity from $93.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.17.

HealthEquity Price Performance

HQY stock opened at $80.38 on Wednesday. HealthEquity, Inc. has a one year low of $53.15 and a one year high of $84.49. The firm has a 50-day moving average of $80.66 and a two-hundred day moving average of $74.72. The company has a current ratio of 4.76, a quick ratio of 4.76 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $6.90 billion, a PE ratio of 125.59, a P/E/G ratio of 1.28 and a beta of 0.55.

HealthEquity (NASDAQ:HQY) last announced its earnings results on Tuesday, March 19th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. HealthEquity had a net margin of 5.57% and a return on equity of 6.91%. The company had revenue of $262.39 million for the quarter, compared to the consensus estimate of $258.56 million. On average, analysts forecast that HealthEquity, Inc. will post 2.12 earnings per share for the current year.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, EVP Delano Ladd sold 2,558 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $82.59, for a total value of $211,265.22. Following the transaction, the executive vice president now directly owns 47,438 shares of the company’s stock, valued at approximately $3,917,904.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Jon Kessler sold 33,765 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $79.81, for a total value of $2,694,784.65. Following the completion of the sale, the chief executive officer now directly owns 126,635 shares in the company, valued at approximately $10,106,739.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Delano Ladd sold 2,558 shares of HealthEquity stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $82.59, for a total transaction of $211,265.22. Following the completion of the transaction, the executive vice president now directly owns 47,438 shares in the company, valued at approximately $3,917,904.42. The disclosure for this sale can be found here. Insiders have sold a total of 71,322 shares of company stock valued at $5,682,895 in the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

HealthEquity Company 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.