426,615 Shares in Accolade, Inc. (NASDAQ:ACCD) Bought by Johnson Financial Group LLC

Johnson Financial Group LLC purchased a new position in shares of Accolade, Inc. (NASDAQ:ACCD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 426,615 shares of the company’s stock, valued at approximately $1,642,000. Accolade makes up approximately 0.2% of Johnson Financial Group LLC’s holdings, making the stock its 17th biggest holding. Johnson Financial Group LLC owned approximately 0.53% of Accolade as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Accolade in the first quarter valued at approximately $87,000. GSA Capital Partners LLP raised its holdings in shares of Accolade by 102.8% in the 1st quarter. GSA Capital Partners LLP now owns 51,374 shares of the company’s stock worth $538,000 after purchasing an additional 26,044 shares in the last quarter. Swiss National Bank boosted its holdings in Accolade by 1.7% during the first quarter. Swiss National Bank now owns 137,500 shares of the company’s stock worth $1,441,000 after buying an additional 2,300 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of Accolade during the 1st quarter worth $360,000. Finally, Vanguard Group Inc. grew its holdings in shares of Accolade by 1.4% in the 1st 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 during the last quarter. Institutional investors own 84.99% of the company’s stock.

Accolade Price Performance

Shares of ACCD stock opened at $3.21 on Wednesday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. Accolade, Inc. has a 12-month low of $3.08 and a 12-month high of $15.36. The firm has a fifty day moving average of $3.80 and a 200-day moving average of $4.96. The firm has a market capitalization of $258.53 million, a price-to-earnings ratio of -3.12 and a beta of 2.02.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $106.40 million for 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 revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. On average, equities research analysts forecast that Accolade, Inc. will post -0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ACCD. Canaccord Genuity Group cut their price target on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Truist Financial lowered their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Barclays decreased their price objective on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Stephens lowered their price target on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Accolade in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.04.

Accolade 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 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.