Accolade, Inc. (NASDAQ:ACCD) Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,782,038 shares of the company’s stock after acquiring an additional 83,556 shares during the period. Geode Capital Management LLC owned about 2.21% of Accolade worth $6,862,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ACCD. Millennium Management LLC raised its holdings in shares of Accolade by 244.7% during the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after purchasing an additional 1,862,178 shares during the period. Clearline Capital LP grew its position in shares of Accolade by 85.3% during the 3rd quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock valued at $5,927,000 after buying an additional 708,794 shares during the last quarter. Whetstone Capital Advisors LLC bought a new stake in shares of Accolade during the 3rd quarter valued at about $3,842,000. Point72 Asset Management L.P. acquired a new stake in Accolade during the third quarter worth about $2,378,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Accolade by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 569,201 shares of the company’s stock worth $2,191,000 after acquiring an additional 26,155 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors.

Accolade Trading Up 0.6 %

Shares of NASDAQ:ACCD opened at $3.44 on Friday. The company has a 50 day moving average of $3.51 and a 200-day moving average of $3.86. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The firm has a market cap of $277.05 million, a P/E ratio of -3.34 and a beta of 2.07. Accolade, Inc. has a twelve month low of $3.08 and a twelve month high of $15.36.

Accolade (NASDAQ:ACCD) last released its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same period in the prior year, the firm posted ($0.43) earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Accolade, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Stephens lowered their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Barclays dropped their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. Truist Financial cut their target price on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley lowered their price target on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company cut their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.96.

Insider Activity at Accolade

In related 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 value of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at $2,931,537.60. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 38,843 shares of company stock valued at $138,442 over the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

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.