M&T Bank Corp Has $2.82 Million Stock Holdings in HealthEquity, Inc. (NASDAQ:HQY)

M&T Bank Corp trimmed its position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 30.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 31,883 shares of the company's stock after selling 14,026 shares during the period. M&T Bank Corp's holdings in HealthEquity were worth $2,817,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of HealthEquity by 24.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock worth $564,000 after purchasing an additional 1,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in HealthEquity by 7,983.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock valued at $2,179,000 after purchasing an additional 24,350 shares during the period. GAMMA Investing LLC raised its position in shares of HealthEquity by 25.9% during the 1st quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock valued at $139,000 after buying an additional 323 shares in the last quarter. Pier Capital LLC purchased a new position in shares of HealthEquity in the fourth quarter valued at about $8,024,000. Finally, HighTower Advisors LLC increased its position in shares of HealthEquity by 4.8% during the fourth quarter. HighTower Advisors LLC now owns 95,075 shares of the company's stock valued at $9,122,000 after buying an additional 4,370 shares during the period. 99.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $112.56, for a total value of $6,528,480.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Henry Fiore sold 1,794 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total transaction of $182,503.62. Following the transaction, the executive vice president directly owned 53,225 shares in the company, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 291,744 shares of company stock valued at $32,705,007. Insiders own 1.50% of the company's stock.

HealthEquity Stock Performance

Shares of HealthEquity stock traded down $1.16 during trading hours on Tuesday, reaching $96.18. The company's stock had a trading volume of 1,128,310 shares, compared to its average volume of 871,690. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. HealthEquity, Inc. has a one year low of $65.01 and a one year high of $116.65. The company's 50 day simple moving average is $100.98 and its 200 day simple moving average is $98.44. The stock has a market cap of $8.32 billion, a P/E ratio of 70.20, a price-to-earnings-growth ratio of 1.46 and a beta of 0.49.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.81 by $0.16. The company had revenue of $330.80 million for the quarter, compared to the consensus estimate 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 previous year, the company earned $0.80 EPS. As a group, analysts expect that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on HQY shares. KeyCorp dropped their price target on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Bank of America upped their price objective on shares of 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 price objective on shares of HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Raymond James Financial restated a "strong-buy" rating and issued a $120.00 price objective (up from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. Finally, JMP Securities lifted their price objective on shares of HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $118.55.

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.