Bank of New York Mellon Corp Reduces Stock Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Bank of New York Mellon Corp decreased its holdings in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 11.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 663,862 shares of the company's stock after selling 82,020 shares during the period. Bank of New York Mellon Corp owned about 0.77% of HealthEquity worth $58,666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc bought a new stake in HealthEquity in the first quarter valued at approximately $28,000. Transce3nd LLC acquired a new position in shares of HealthEquity in the fourth quarter valued at approximately $29,000. Proficio Capital Partners LLC acquired a new position in shares of HealthEquity in the fourth quarter valued at approximately $39,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of HealthEquity by 1,934.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 468 shares of the company's stock valued at $45,000 after purchasing an additional 445 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its position in shares of HealthEquity by 5,060.0% in the first quarter. Whipplewood Advisors LLC now owns 774 shares of the company's stock valued at $68,000 after purchasing an additional 759 shares during the last quarter. Institutional investors own 99.55% of the company's stock.

Insiders Place Their Bets

In other news, EVP Elimelech Rosner sold 58,000 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the sale, the executive vice president directly owned 75,689 shares in the company, valued at $8,519,553.84. This trade represents a 43.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon Kessler sold 134,183 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $112.08, for a total transaction of $15,039,230.64. Following the sale, the director owned 253,510 shares in the company, valued at $28,413,400.80. The trade was a 34.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 291,744 shares of company stock worth $32,705,007. Company insiders own 1.50% of the company's stock.

HealthEquity Trading Down 2.7%

Shares of NASDAQ HQY traded down $2.67 during midday trading on Friday, hitting $94.52. 1,106,970 shares of the company traded hands, compared to its average volume of 868,962. HealthEquity, Inc. has a 12-month low of $65.01 and a 12-month high of $116.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. The stock has a 50-day moving average price of $100.98 and a 200 day moving average price of $98.43. The firm has a market cap of $8.17 billion, a P/E ratio of 68.99, a P/E/G ratio of 1.45 and a beta of 0.49.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.16. The business had revenue of $330.80 million for the quarter, compared to analysts' expectations of $322.25 million. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. During the same quarter in the prior year, the company earned $0.80 earnings per share. As a group, analysts expect that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on HQY. JMP Securities upped their target price on HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft upped their target price on HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Barrington Research upped their target price on HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. The Goldman Sachs Group upped their target price on HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Finally, KeyCorp cut their target price on HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, HealthEquity currently has a consensus rating of "Buy" and an average price target of $118.55.

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.