Accolade, Inc. (NASDAQ:ACCD) Shares Acquired by Clearline Capital LP

Clearline Capital LP lifted its position in Accolade, Inc. (NASDAQ:ACCD) by 85.3% during the third quarter, HoldingsChannel.com reports. The fund owned 1,539,578 shares of the company’s stock after acquiring an additional 708,794 shares during the period. Clearline Capital LP’s holdings in Accolade were worth $5,927,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Whetstone Capital Advisors LLC purchased a new position in Accolade in the 3rd quarter valued at $3,842,000. Cubist Systematic Strategies LLC raised its position in shares of Accolade by 273.4% in the second quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock valued at $931,000 after buying an additional 190,396 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Accolade in the second quarter worth about $1,229,000. Johnson Financial Group LLC acquired a new position in Accolade during the third quarter worth about $1,642,000. Finally, Algert Global LLC grew its stake in Accolade by 153.5% during the 2nd quarter. Algert Global LLC now owns 354,119 shares of the company’s stock valued at $1,268,000 after acquiring an additional 214,441 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ACCD. Stephens decreased their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Truist Financial lowered their price target 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. Finally, Canaccord Genuity Group cut their price objective on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.04.

Accolade Stock Up 2.9 %

Shares of NASDAQ ACCD opened at $3.86 on Monday. Accolade, Inc. has a 52-week low of $3.08 and a 52-week high of $15.36. The business’s 50 day moving average is $3.61 and its two-hundred day moving average is $4.43. The firm has a market cap of $310.87 million, a price-to-earnings ratio of -3.75 and a beta of 2.02. 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 (NASDAQ:ACCD) last posted its earnings results 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 firm had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. Accolade’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) EPS. Research analysts predict that Accolade, Inc. will post -0.92 EPS for the current year.

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.