HealthEquity, Inc. (NASDAQ:HQY) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 663,862 shares of the company's stock after selling 82,020 shares during the quarter. Bank of New York Mellon Corp owned about 0.77% of HealthEquity worth $58,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of HQY. T. Rowe Price Investment Management Inc. purchased a new position in HealthEquity in the fourth quarter valued at about $78,107,000. Norges Bank purchased a new stake in shares of HealthEquity during the fourth quarter valued at about $74,701,000. Raymond James Financial Inc. bought a new stake in shares of HealthEquity in the 4th quarter valued at about $45,728,000. Iron Triangle Partners LP bought a new stake in shares of HealthEquity in the 4th quarter valued at about $32,202,000. Finally, Artisan Partners Limited Partnership purchased a new position in shares of HealthEquity in the 4th quarter worth approximately $24,568,000. 99.55% of the stock is owned by institutional investors.

Insider Activity at HealthEquity

In other news, Director Jon Kessler sold 134,183 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $112.08, for a total value of $15,039,230.64. Following the completion of the sale, the director directly owned 253,510 shares in the company, valued at $28,413,400.80. This represents a 34.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $112.56, for a total value of $6,528,480.00. Following the transaction, the executive vice president owned 75,689 shares in the company, valued at approximately $8,519,553.84. The trade was a 43.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 291,744 shares of company stock worth $32,705,007 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

HQY has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Bank of America raised their price objective on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada upped their target price on HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group lifted their target price on shares of HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Finally, Barrington Research upped their price target on shares of HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $118.55.

HealthEquity Stock Performance

HealthEquity stock traded up $1.49 during midday trading on Wednesday, hitting $97.67. 940,815 shares of the company were exchanged, compared to its average volume of 1,039,962. The business has a fifty day simple moving average of $101.21 and a two-hundred day simple moving average of $98.43. 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 firm has a market capitalization of $8.45 billion, a PE ratio of 71.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.49. HealthEquity, Inc. has a fifty-two week low of $65.01 and a fifty-two week high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.16. The firm had revenue of $330.80 million during 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 period in the previous year, the business posted $0.80 EPS. On average, sell-side analysts forecast that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

About HealthEquity

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.