Stifel Financial Corp Boosts Stake in Accolade, Inc. (NASDAQ:ACCD)

Stifel Financial Corp boosted its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 377,221 shares of the company’s stock after purchasing an additional 45,095 shares during the period. Stifel Financial Corp owned about 0.46% of Accolade worth $1,290,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ACCD. MetLife Investment Management LLC grew its stake in shares of Accolade by 16.9% during the 4th quarter. MetLife Investment Management LLC now owns 43,337 shares of the company’s stock valued at $148,000 after acquiring an additional 6,268 shares during the period. Natixis bought a new position in shares of Accolade in the fourth quarter worth approximately $980,000. Dimensional Fund Advisors LP increased its stake in shares of Accolade by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,275 shares of the company’s stock worth $5,175,000 after purchasing an additional 3,885 shares in the last quarter. Marshall Wace LLP raised its position in shares of Accolade by 2,233.6% during the 4th quarter. Marshall Wace LLP now owns 531,885 shares of the company’s stock valued at $1,819,000 after purchasing an additional 509,093 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Accolade during the 4th quarter valued at $96,000. Institutional investors own 84.99% of the company’s stock.

Accolade Stock Performance

ACCD opened at $7.02 on Thursday. Accolade, Inc. has a one year low of $3.08 and a one year high of $8.05. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63. The stock has a market cap of $575.59 million, a price-to-earnings ratio of -3.12 and a beta of 2.10. The stock’s 50 day moving average price is $7.00 and its 200-day moving average price is $5.59.

Analyst Ratings Changes

A number of research firms have commented on ACCD. Raymond James reissued a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Stephens reiterated an “equal weight” rating and set a $7.03 price objective on shares of Accolade in a research report on Wednesday, February 12th. Piper Sandler lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a research note on Wednesday, January 8th. Thirteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.51.

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 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.