Accolade, Inc. (NASDAQ:ACCD) Shares Bought by Barclays PLC

Barclays PLC raised its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 164.4% in the third quarter, Holdings Channel.com reports. The fund owned 139,901 shares of the company’s stock after acquiring an additional 86,981 shares during the quarter. Barclays PLC’s holdings in Accolade were worth $539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ACCD. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock valued at $73,000 after purchasing an additional 3,789 shares during the last quarter. Versor Investments LP purchased a new position in shares of Accolade in the second quarter worth about $150,000. Rhumbline Advisers lifted its stake in shares of Accolade by 22.5% in the second quarter. Rhumbline Advisers now owns 124,351 shares of the company’s stock worth $445,000 after buying an additional 22,857 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Accolade during the second quarter worth about $1,229,000. Finally, Blair William & Co. IL grew its stake in Accolade by 73.1% during the 2nd quarter. Blair William & Co. IL now owns 79,834 shares of the company’s stock valued at $286,000 after acquiring an additional 33,725 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ACCD shares. Barclays decreased their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley reduced their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Canaccord Genuity Group cut their target price on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and set a $8.00 price target on shares of Accolade in a research report on Monday, October 7th. Finally, Wells Fargo & Company cut their price objective on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.96.

Insider Buying and Selling at Accolade

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value 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 $2,931,537.60. This trade represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 38,843 shares of company stock valued at $138,442 in the last three months. 8.20% of the stock is owned by corporate insiders.

Accolade Stock Performance

NASDAQ:ACCD opened at $3.42 on Friday. Accolade, Inc. has a fifty-two week low of $3.08 and a fifty-two week high of $15.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The company has a 50 day moving average price of $3.51 and a 200 day moving average price of $3.88. The stock has a market capitalization of $275.44 million, a P/E ratio of -3.32 and a beta of 2.07.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. The business had revenue of $106.40 million during 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%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted ($0.43) earnings per share. Equities research analysts forecast 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.