Ieq Capital LLC Purchases 41,071 Shares of Accolade, Inc. (NASDAQ:ACCD)

Ieq Capital LLC lifted its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 99.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,509 shares of the company’s stock after purchasing an additional 41,071 shares during the period. Ieq Capital LLC owned 0.10% of Accolade worth $282,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ACCD. Whetstone Capital Advisors LLC acquired a new position in Accolade during the third quarter worth approximately $3,842,000. Johnson Financial Group LLC bought a new position in shares of Accolade during the 3rd quarter worth approximately $1,642,000. Nisa Investment Advisors LLC increased its holdings in shares of Accolade by 15,113.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 55,680 shares of the company’s stock worth $190,000 after acquiring an additional 55,314 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Accolade in the 3rd quarter valued at $2,378,000. Finally, Barclays PLC lifted its holdings in Accolade by 164.4% during the 3rd quarter. Barclays PLC now owns 139,901 shares of the company’s stock valued at $539,000 after purchasing an additional 86,981 shares during the last quarter. 84.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ACCD has been the topic of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Leerink Partners reissued a “market perform” rating on shares of Accolade in a report on Wednesday, January 8th. Stephens restated an “equal weight” rating and set a $7.03 price objective on shares of Accolade in a report on Wednesday, February 12th. Morgan Stanley lowered their target price on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Truist Financial downgraded Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.51.

Insiders Place Their Bets

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 40,751 shares of company stock worth $164,404 over the last three months. Insiders own 8.20% of the company’s stock.

Accolade Stock Up 0.1 %

ACCD stock opened at $6.97 on Friday. Accolade, Inc. has a 52 week low of $3.08 and a 52 week high of $10.78. The business has a 50-day simple moving average of $6.07 and a 200 day simple moving average of $4.57. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67. The company has a market cap of $568.65 million, a PE ratio of -3.10 and a beta of 2.19.

Accolade (NASDAQ:ACCD) last issued its earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. Sell-side analysts anticipate that Accolade, Inc. will post -1.2 EPS for the current fiscal 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.