Dynamic Technology Lab Private Ltd Cuts Holdings in Accolade, Inc. (NASDAQ:ACCD)

Dynamic Technology Lab Private Ltd reduced its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 62.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 48,198 shares of the company’s stock after selling 81,356 shares during the period. Dynamic Technology Lab Private Ltd owned approximately 0.06% of Accolade worth $186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACCD. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Accolade during the third quarter valued at about $46,000. SG Americas Securities LLC purchased a new position in shares of Accolade during the 2nd quarter valued at about $43,000. Price T Rowe Associates Inc. MD lifted its position in Accolade by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock worth $205,000 after buying an additional 2,586 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Accolade by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after buying an additional 3,789 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Accolade during the third quarter valued at approximately $96,000. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACCD has been the subject of a number of recent research reports. Canaccord Genuity Group lowered their price objective on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Barclays cut their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of Accolade in a report on Monday, October 7th. Finally, Truist Financial decreased their price target on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.04.

Accolade Trading Down 1.8 %

NASDAQ ACCD opened at $3.79 on Tuesday. The firm has a market capitalization of $305.24 million, a PE ratio of -3.68 and a beta of 2.02. The stock’s 50 day moving average is $3.61 and its 200 day moving average is $4.40. Accolade, Inc. has a twelve month low of $3.08 and a twelve month high of $15.36. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49.

Accolade (NASDAQ:ACCD) last announced its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter last year, the firm earned ($0.43) earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts forecast that Accolade, Inc. will post -0.92 earnings per share for the current fiscal year.

Accolade 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 intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women’s health specialists, case management specialists, expert medical opinion providers, and primary care physicians.