Investors Buy High Volume of Put Options on Accolade (NASDAQ:ACCD)

Accolade, Inc. (NASDAQ:ACCD) was the recipient of some unusual options trading activity on Friday. Traders bought 11,380 put options on the stock. This represents an increase of approximately 1,911% compared to the average daily volume of 566 put options.

Accolade Trading Down 44.0 %

Shares of ACCD stock opened at $3.58 on Friday. The business has a 50-day moving average price of $7.09 and a two-hundred day moving average price of $9.66. Accolade has a 12-month low of $3.52 and a 12-month high of $15.36. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.47. The firm has a market cap of $286.44 million, a P/E ratio of -2.69 and a beta of 2.10.

Accolade (NASDAQ:ACCD) last released its earnings results on Thursday, June 27th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.13. The company had revenue of $110.50 million during the quarter, compared to the consensus estimate of $105.22 million. Accolade had a negative return on equity of 22.53% and a negative net margin of 24.09%. Accolade’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.52) EPS. Equities analysts anticipate that Accolade will post -1.23 EPS for the current fiscal year.

Insider Buying and Selling at Accolade

In other news, CAO Colin Mchugh sold 5,543 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total value of $36,694.66. Following the completion of the transaction, the chief accounting officer now directly owns 50,177 shares of the company’s stock, valued at $332,171.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 14,746 shares of company stock worth $104,586. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Accolade

Several institutional investors and hedge funds have recently made changes to their positions in the business. Swiss National Bank increased its holdings in Accolade by 1.7% during the 1st quarter. Swiss National Bank now owns 137,500 shares of the company’s stock valued at $1,441,000 after purchasing an additional 2,300 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Accolade by 15.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after acquiring an additional 2,586 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Accolade during the third quarter valued at approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Accolade by 39.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,584 shares of the company’s stock worth $199,000 after acquiring an additional 4,656 shares during the period. Finally, AJOVista LLC bought a new stake in Accolade in the fourth quarter valued at $68,000. Institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Accolade from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday. Wells Fargo & Company lowered their price target on shares of Accolade from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Accolade in a report on Monday, June 24th. Guggenheim reduced their price objective on shares of Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a research note on Friday. Finally, Canaccord Genuity Group dropped their target price on Accolade from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.89.

Accolade Company Profile

Accolade, Inc, together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.