Whetstone Capital Advisors LLC Invests $3.84 Million in Accolade, Inc. (NASDAQ:ACCD)

Whetstone Capital Advisors LLC purchased a new position in shares of Accolade, Inc. (NASDAQ:ACCD) during the third quarter, HoldingsChannel reports. The firm purchased 997,889 shares of the company’s stock, valued at approximately $3,842,000. Accolade comprises 1.9% of Whetstone Capital Advisors LLC’s portfolio, making the stock its 21st biggest position.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Accolade by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 569,201 shares of the company’s stock valued at $2,191,000 after purchasing an additional 26,155 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Accolade in the third quarter valued at about $96,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Accolade by 167.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,723 shares of the company’s stock valued at $1,327,000 after purchasing an additional 215,958 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Accolade by 41.3% during the 3rd quarter. GSA Capital Partners LLP now owns 460,052 shares of the company’s stock worth $1,771,000 after purchasing an additional 134,427 shares in the last quarter. Finally, Johnson Financial Group LLC acquired a new position in shares of Accolade during the 3rd quarter worth approximately $1,642,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Accolade Trading Down 0.3 %

Shares of NASDAQ:ACCD opened at $3.70 on Monday. Accolade, Inc. has a 1 year low of $3.08 and a 1 year high of $15.36. The stock has a 50-day simple moving average of $3.65 and a 200-day simple moving average of $4.55. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. The company had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.43) earnings per share. As a group, sell-side analysts forecast that Accolade, Inc. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays dropped their price target on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Stephens cut their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Canaccord Genuity Group decreased their price target on shares of Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Truist Financial lowered their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced 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 note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Accolade has a consensus rating of “Moderate Buy” and an average price target of $9.04.

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.