Stephen H. Barnes Sells 5,640 Shares of Accolade, Inc. (NASDAQ:ACCD) Stock

Accolade, Inc. (NASDAQ:ACCD) CFO Stephen H. Barnes sold 5,640 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $20,304.00. Following the completion of the sale, the chief financial officer now directly owns 219,623 shares of the company’s stock, valued at $790,642.80. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Accolade Stock Performance

ACCD stock traded down $0.03 during midday trading on Wednesday, hitting $3.54. The stock had a trading volume of 687,313 shares, compared to its average volume of 1,094,706. The firm has a market capitalization of $285.11 million, a price-to-earnings ratio of -3.44 and a beta of 2.07. Accolade, Inc. has a 52 week low of $3.08 and a 52 week high of $15.36. The stock has a 50-day simple moving average of $3.60 and a 200 day simple moving average of $4.38. 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. 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 analyst estimates of $104.87 million. During the same period in the prior year, the company posted ($0.43) earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Accolade, Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACCD. Vanguard Group Inc. raised its stake in Accolade by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock worth $56,626,000 after acquiring an additional 77,044 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Accolade by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after buying an additional 2,586 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Accolade in the second quarter valued at $43,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Accolade by 18.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock valued at $7,203,000 after buying an additional 314,371 shares in the last quarter. Finally, ARK Investment Management LLC increased its stake in shares of Accolade by 0.5% in the second quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock valued at $20,196,000 after buying an additional 28,405 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACCD has been the subject of several research analyst reports. Truist Financial reduced their price objective 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. Wells Fargo & Company reduced their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group reduced their price objective on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of Accolade in a report on Monday, October 7th. Finally, Stephens dropped their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Accolade presently has an average rating of “Moderate Buy” and an average target price 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.