Short Interest in Accolade, Inc. (NASDAQ:ACCD) Rises By 15.4%

Accolade, Inc. (NASDAQ:ACCDGet Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,780,000 shares, an increase of 15.4% from the February 29th total of 2,410,000 shares. Based on an average daily trading volume, of 746,700 shares, the days-to-cover ratio is currently 3.7 days.

Insider Activity

In other news, CEO Rajeev Singh sold 21,530 shares of Accolade stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $15.02, for a total transaction of $323,380.60. Following the transaction, the chief executive officer now owns 742,162 shares in the company, valued at approximately $11,147,273.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 65,370 shares of company stock worth $953,666 over the last 90 days. 8.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Accolade

A number of large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its stake in shares of Accolade by 9.0% during the 1st quarter. Rockefeller Capital Management L.P. now owns 12,100 shares of the company’s stock worth $174,000 after purchasing an additional 1,000 shares during the period. Cresset Asset Management LLC boosted its position in Accolade by 1.3% in the 4th quarter. Cresset Asset Management LLC now owns 81,983 shares of the company’s stock valued at $985,000 after buying an additional 1,064 shares during the period. Bessemer Group Inc. boosted its position in Accolade by 16.4% in the 2nd quarter. Bessemer Group Inc. now owns 7,584 shares of the company’s stock valued at $102,000 after buying an additional 1,067 shares during the period. Lazard Asset Management LLC boosted its position in Accolade by 0.9% in the 2nd quarter. Lazard Asset Management LLC now owns 116,520 shares of the company’s stock valued at $1,569,000 after buying an additional 1,081 shares during the period. Finally, California State Teachers Retirement System boosted its position in Accolade by 1.5% in the 2nd quarter. California State Teachers Retirement System now owns 79,596 shares of the company’s stock valued at $1,072,000 after buying an additional 1,147 shares during the period. 84.99% of the stock is owned by hedge funds and other institutional investors.

Accolade Stock Performance

Shares of NASDAQ:ACCD opened at $10.48 on Monday. Accolade has a 52 week low of $6.33 and a 52 week high of $17.00. The stock has a market capitalization of $811.26 million, a P/E ratio of -6.35 and a beta of 2.08. The firm has a fifty day simple moving average of $11.03 and a two-hundred day simple moving average of $10.13. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48.

Accolade (NASDAQ:ACCDGet Free Report) last issued its quarterly earnings data on Monday, January 8th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.17. Accolade had a negative net margin of 31.59% and a negative return on equity of 27.27%. The business had revenue of $99.37 million during the quarter, compared to analysts’ expectations of $96.16 million. During the same period last year, the company posted ($0.56) EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, analysts expect that Accolade will post -1.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACCD has been the topic of several recent analyst reports. Truist Financial raised their price objective on shares of Accolade from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Needham & Company LLC restated a “buy” rating and set a $17.00 price objective on shares of Accolade in a research report on Friday, January 19th. Raymond James raised their price objective on shares of Accolade from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Leerink Partnrs restated an “outperform” rating on shares of Accolade in a research report on Monday, February 26th. Finally, Wells Fargo & Company raised their price objective on shares of Accolade from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Accolade currently has an average rating of “Moderate Buy” and an average price target of $15.67.

Check Out Our Latest Report on ACCD

Accolade Company Profile

(Get Free Report)

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.

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