GGV Capital LLC Raises Stake in Accolade, Inc. (NASDAQ:ACCD)

GGV Capital LLC lifted its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 242.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,063 shares of the company’s stock after purchasing an additional 12,795 shares during the quarter. Accolade makes up about 0.2% of GGV Capital LLC’s investment portfolio, making the stock its 9th largest position. GGV Capital LLC’s holdings in Accolade were worth $189,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Accolade by 3.1% in the 3rd 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 in the last quarter. GSA Capital Partners LLP boosted its stake in Accolade by 102.8% in the 1st quarter. GSA Capital Partners LLP now owns 51,374 shares of the company’s stock valued at $538,000 after buying an additional 26,044 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Accolade by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 555,982 shares of the company’s stock valued at $6,677,000 after buying an additional 34,559 shares in the last quarter. Certuity LLC acquired a new stake in Accolade in the 4th quarter valued at $603,000. Finally, Los Angeles Capital Management LLC boosted its stake in Accolade by 233.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 56,149 shares of the company’s stock valued at $588,000 after buying an additional 39,330 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ACCD shares. Canaccord Genuity Group dropped their target price on Accolade from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Barclays dropped their price objective on Accolade from $11.00 to $5.50 and set an “equal weight” rating for the company in a report on Friday, June 28th. Guggenheim dropped their price objective on Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a report on Friday, June 28th. Morgan Stanley dropped their price objective on Accolade from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Finally, Wells Fargo & Company dropped their price objective on Accolade from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.65.

Insider Transactions at Accolade

In other news, CAO Colin Mchugh sold 5,543 shares of the 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 $332,171.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 17,529 shares of company stock worth $102,466. Company insiders own 8.20% of the company’s stock.

Accolade Stock Down 0.9 %

NASDAQ ACCD traded down $0.03 during trading hours on Friday, hitting $3.45. 1,492,367 shares of the company traded hands, compared to its average volume of 2,832,399. The business’s 50-day moving average is $5.76 and its 200-day moving average is $8.81. Accolade, Inc. has a twelve month low of $3.35 and a twelve month high of $15.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.80 and a current ratio of 2.80. The stock has a market capitalization of $276.03 million, a price-to-earnings ratio of -2.97 and a beta of 2.00.

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, beating the consensus estimate of ($0.48) by $0.13. The firm had revenue of $110.50 million for the quarter, compared to analyst estimates of $105.22 million. Accolade had a negative return on equity of 20.30% and a negative net margin of 20.62%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.52) earnings per share. Sell-side analysts anticipate that Accolade, Inc. will post -1.17 earnings per share for the current year.

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.