Acadian Asset Management LLC Invests $1.23 Million in Accolade, Inc. (NASDAQ:ACCD)

Acadian Asset Management LLC bought a new position in shares of Accolade, Inc. (NASDAQ:ACCD) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 343,704 shares of the company’s stock, valued at approximately $1,229,000. Acadian Asset Management LLC owned approximately 0.43% of Accolade at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACCD. SG Americas Securities LLC bought a new position in Accolade during the 2nd quarter worth about $43,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after buying an additional 3,789 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Accolade in the 1st quarter valued at about $87,000. Versor Investments LP bought a new stake in shares of Accolade in the 2nd quarter valued at about $150,000. Finally, GGV Capital LLC boosted its holdings in shares of Accolade by 242.9% in the 1st quarter. GGV Capital LLC now owns 18,063 shares of the company’s stock valued at $189,000 after buying an additional 12,795 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

Accolade Price Performance

NASDAQ:ACCD opened at $4.26 on Monday. Accolade, Inc. has a one year low of $3.35 and a one year high of $15.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 2.80. The firm has a market cap of $340.83 million, a price-to-earnings ratio of -3.67 and a beta of 2.00. The firm’s fifty day moving average is $3.94 and its two-hundred day moving average is $6.47.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Thursday, June 27th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.13. Accolade had a negative net margin of 20.62% and a negative return on equity of 20.30%. The company had revenue of $110.50 million for the quarter, compared to analyst estimates of $105.22 million. During the same period in the prior year, the company earned ($0.52) earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. Research analysts expect that Accolade, Inc. will post -1.11 EPS for the current year.

Wall Street Analysts Forecast Growth

ACCD has been the topic of a number of recent analyst reports. Canaccord Genuity Group lowered their price target on shares of Accolade from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Stifel Nicolaus lowered their price target on shares of Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Morgan Stanley lowered their price target on shares of Accolade from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Accolade in a report on Monday, June 24th. Finally, Truist Financial decreased their price objective on shares of Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.65.

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 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.