Accolade, Inc. (NASDAQ:ACCD) Shares Sold by State Street Corp

State Street Corp cut its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,927,089 shares of the company’s stock after selling 54,845 shares during the quarter. State Street Corp owned 2.39% of Accolade worth $7,419,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centiva Capital LP raised its stake in shares of Accolade by 5.8% during the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock worth $230,000 after buying an additional 3,264 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Accolade by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock worth $104,000 after acquiring an additional 3,416 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Accolade by 22.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after purchasing an additional 3,789 shares in the last quarter. Mission Creek Capital Partners Inc. acquired a new stake in shares of Accolade in the third quarter valued at approximately $38,000. Finally, Inspire Investing LLC increased its stake in shares of Accolade by 11.1% during the 3rd quarter. Inspire Investing LLC now owns 106,679 shares of the company’s stock worth $411,000 after purchasing an additional 10,658 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Accolade Stock Down 0.8 %

Shares of NASDAQ ACCD opened at $3.54 on Friday. The stock has a market capitalization of $285.10 million, a PE ratio of -3.44 and a beta of 2.07. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average of $3.50 and a 200-day moving average of $3.96. Accolade, Inc. has a 52-week low of $3.08 and a 52-week high of $15.36.

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

Insider Buying and Selling

In related news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the transaction, the chief executive officer now owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 42,095 shares of company stock valued at $150,475. 8.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ACCD shares. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of Accolade in a report on Monday, October 7th. 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 research note on Friday, October 11th. Truist Financial cut their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Stephens decreased their price target on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Canaccord Genuity Group cut their price objective on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Accolade presently has an average rating of “Moderate Buy” and an average price target of $8.96.

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.