Accolade, Inc. (NASDAQ:ACCD) Shares Bought by Bellevue Group AG

Bellevue Group AG grew its holdings in Accolade, Inc. (NASDAQ:ACCD) by 6.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,804,514 shares of the company’s stock after buying an additional 297,110 shares during the period. Bellevue Group AG owned 0.06% of Accolade worth $50,351,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Accolade by 3.1% in the third quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock valued at $55,903,000 after buying an additional 157,464 shares during the last quarter. Requisite Capital Management LLC acquired a new position in shares of Accolade in the 4th quarter worth approximately $254,000. International Assets Investment Management LLC lifted its holdings in shares of Accolade by 1,101.0% in the 4th quarter. International Assets Investment Management LLC now owns 110,492 shares of the company’s stock worth $1,327,000 after acquiring an additional 101,292 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Accolade by 39.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,584 shares of the company’s stock worth $199,000 after purchasing an additional 4,656 shares during the period. Finally, Knights of Columbus Asset Advisors LLC increased its holdings in Accolade by 100.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 54,124 shares of the company’s stock valued at $650,000 after purchasing an additional 27,062 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of Accolade in a research note on Monday, June 24th. Barclays decreased their target price on Accolade from $11.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company dropped their target price on Accolade from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Morgan Stanley reduced their price target on shares of 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, Guggenheim lowered their price objective on shares of Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Accolade has a consensus rating of “Moderate Buy” and a consensus target price of $11.65.

Accolade Stock Up 6.0 %

Accolade stock traded up $0.23 during trading on Friday, reaching $4.08. The stock had a trading volume of 1,481,554 shares, compared to its average volume of 2,772,386. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.48. Accolade, Inc. has a 52-week low of $3.35 and a 52-week high of $15.36. The stock has a market cap of $326.44 million, a PE ratio of -3.52 and a beta of 2.00. The business has a 50 day moving average price of $5.41 and a 200 day moving average price of $8.49.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data 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. The business had revenue of $110.50 million during the quarter, compared to analysts’ expectations of $105.22 million. Accolade had a negative net margin of 20.62% and a negative return on equity of 20.30%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.52) EPS. On average, analysts predict that Accolade, Inc. will post -1.17 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Colin Mchugh sold 5,543 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $6.62, for a total value 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 document filed with the SEC, which is available at this hyperlink. Insiders sold 17,529 shares of company stock valued at $102,466 in the last ninety days. Insiders own 8.20% of the company’s stock.

Accolade Company 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.