Inspire Investing LLC Buys New Shares in Accolade, Inc. (NASDAQ:ACCD)

Inspire Investing LLC purchased a new stake in Accolade, Inc. (NASDAQ:ACCD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,333 shares of the company’s stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ACCD. Fairman Group LLC acquired a new stake in Accolade in the fourth quarter valued at $14,139,000. Ieq Capital LLC acquired a new stake in shares of Accolade during the fourth quarter worth about $13,387,000. ARK Investment Management LLC increased its position in shares of Accolade by 12.6% during the fourth quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company’s stock worth $81,731,000 after purchasing an additional 762,685 shares in the last quarter. JFG Wealth Management LLC acquired a new stake in shares of Accolade during the fourth quarter worth about $5,657,000. Finally, Vanguard Group Inc. increased its position in shares of Accolade by 3.1% during the third quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock worth $55,903,000 after purchasing an additional 157,464 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on ACCD shares. Barclays cut their target price on Accolade from $11.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Wells Fargo & Company cut their target price on Accolade from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Guggenheim cut their target price on Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Morgan Stanley cut their target price on Accolade from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Finally, Stifel Nicolaus cut their target price on Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Accolade currently has a consensus rating of “Moderate Buy” and an average price target of $11.65.

Accolade Stock Performance

NASDAQ ACCD opened at $3.89 on Wednesday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $5.98 and its two-hundred day moving average is $8.98. Accolade, Inc. has a 12-month low of $3.35 and a 12-month high of $15.36.

Accolade (NASDAQ:ACCD) last released its earnings results on Thursday, June 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.13. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. The company had revenue of $110.50 million for the quarter, compared to analysts’ expectations of $105.22 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, analysts expect that Accolade, Inc. will post -1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Accolade news, CAO Colin Mchugh sold 5,543 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total transaction of $36,694.66. Following the transaction, the chief accounting officer now owns 50,177 shares in the company, valued at approximately $332,171.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 17,472 shares of company stock worth $105,246. Company 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 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.