Bellevue Group AG Boosts Stock Position in Accolade, Inc. (NASDAQ:ACCD)

Bellevue Group AG lifted its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,804,514 shares of the company’s stock after buying an additional 297,110 shares during the period. Bellevue Group AG owned about 6.13% of Accolade worth $50,351,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ACCD. Fairman Group LLC purchased a new position in shares of Accolade during the fourth quarter worth approximately $14,139,000. Ieq Capital LLC purchased a new position in Accolade in the 4th quarter worth $13,387,000. JFG Wealth Management LLC bought a new stake in Accolade in the fourth quarter worth $5,657,000. Vanguard Group Inc. boosted its position in Accolade by 3.1% during 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 period. Finally, Mckinley Capital Management LLC bought a new position in shares of Accolade during the first quarter valued at about $1,155,000. Institutional investors own 84.99% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $36,694.66. Following the sale, the chief accounting officer now directly owns 50,177 shares of the company’s stock, valued at approximately $332,171.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 17,529 shares of company stock worth $102,466. 8.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Canaccord Genuity Group reduced their price target on Accolade from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Barclays cut their target price on shares of Accolade from $11.00 to $5.50 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Truist Financial dropped their price target on shares of Accolade from $14.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Morgan Stanley decreased their price objective 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 dropped their target price on shares of Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a report on Friday, June 28th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.65.

Accolade Stock Up 6.0 %

Shares of ACCD traded up $0.23 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 firm has a market capitalization of $326.44 million, a price-to-earnings ratio of -3.52 and a beta of 2.00. The company has a 50-day simple moving average of $5.41 and a 200-day simple moving average of $8.49. Accolade, Inc. has a 12-month low of $3.35 and a 12-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.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Thursday, June 27th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.13. The business had revenue of $110.50 million during 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 company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.52) earnings per share. Sell-side analysts predict that Accolade, Inc. will post -1.17 EPS for the current year.

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.