Stifel Financial Corp Boosts Position in Accolade, Inc. (NASDAQ:ACCD)

Stifel Financial Corp increased its holdings in Accolade, Inc. (NASDAQ:ACCD) by 20.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 332,126 shares of the company’s stock after acquiring an additional 57,239 shares during the quarter. Stifel Financial Corp owned about 0.41% of Accolade worth $1,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Accolade in the 2nd quarter worth about $43,000. ARK Investment Management LLC lifted its holdings in Accolade by 0.5% in the second quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock worth $20,196,000 after buying an additional 28,405 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Accolade by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after acquiring an additional 3,789 shares in the last quarter. Versor Investments LP bought a new stake in Accolade during the 2nd quarter valued at approximately $150,000. Finally, Rhumbline Advisers grew its holdings in shares of Accolade by 22.5% during the 2nd quarter. Rhumbline Advisers now owns 124,351 shares of the company’s stock worth $445,000 after acquiring an additional 22,857 shares during the period. Institutional investors own 84.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Morgan Stanley lowered their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Truist Financial reduced their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Stephens lowered their price target on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Accolade in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Accolade currently has an average rating of “Moderate Buy” and a consensus target price of $8.96.

Accolade Trading Up 4.8 %

NASDAQ:ACCD opened at $3.48 on Friday. The stock has a market cap of $280.27 million, a price-to-earnings ratio of -3.38 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 company’s 50 day moving average price is $3.51 and its 200-day moving average price is $4.06. Accolade, Inc. has a 52 week low of $3.08 and a 52 week high of $15.36.

Accolade (NASDAQ:ACCD) last issued its 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. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The business had revenue of $106.40 million for the quarter, compared to the consensus estimate of $104.87 million. During the same period last year, the business posted ($0.43) EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Accolade, Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 42,095 shares of company stock valued at $150,475 over the last ninety days. 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.