Barclays PLC Grows Stake in Accolade, Inc. (NASDAQ:ACCD)

Barclays PLC grew its holdings in shares of Accolade, Inc. (NASDAQ:ACCD) by 164.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,901 shares of the company’s stock after purchasing an additional 86,981 shares during the period. Barclays PLC owned approximately 0.17% of Accolade worth $539,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC raised its stake in Accolade by 244.7% in the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after buying an additional 1,862,178 shares during the last quarter. Whetstone Capital Advisors LLC acquired a new position in shares of Accolade during the third quarter valued at about $3,842,000. Clearline Capital LP acquired a new position in shares of Accolade during the second quarter valued at about $2,974,000. Point72 Asset Management L.P. purchased a new position in shares of Accolade in the 3rd quarter valued at approximately $2,378,000. Finally, Johnson Financial Group LLC acquired a new stake in Accolade in the 3rd quarter worth approximately $1,642,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

Accolade Price Performance

Shares of NASDAQ ACCD opened at $3.42 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The firm’s 50 day simple moving average is $3.51 and its 200-day simple moving average is $3.88. Accolade, Inc. has a 12 month low of $3.08 and a 12 month high of $15.36. The stock has a market capitalization of $275.44 million, a price-to-earnings ratio of -3.32 and a beta of 2.07.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on ACCD shares. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Accolade in a research note on Monday, October 7th. Stephens cut their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company lowered their price target on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group cut their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Barclays decreased their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.96.

Insider Activity at Accolade

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 value of $48,085.20. Following the sale, the chief executive officer now owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 38,843 shares of company stock worth $138,442 in the last 90 days. Corporate insiders own 8.20% of the company’s stock.

About Accolade

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.