MetLife Investment Management LLC Sells 6,253 Shares of Accolade, Inc. (NASDAQ:ACCD)

MetLife Investment Management LLC cut its holdings in shares of Accolade, Inc. (NASDAQ:ACCD) by 14.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,069 shares of the company’s stock after selling 6,253 shares during the quarter. MetLife Investment Management LLC’s holdings in Accolade were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in shares of Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after buying an additional 1,862,178 shares in the last quarter. Whetstone Capital Advisors LLC bought a new stake in Accolade during the 3rd quarter valued at $3,842,000. Clearline Capital LP purchased a new stake in shares of Accolade during the second quarter worth $2,974,000. Johnson Financial Group LLC bought a new position in shares of Accolade in the third quarter worth $1,642,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Accolade in the second quarter valued at $1,229,000. Institutional investors own 84.99% of the company’s stock.

Accolade Trading Down 1.9 %

NASDAQ ACCD opened at $3.62 on Tuesday. The stock’s 50-day simple moving average is $3.58 and its two-hundred day simple moving average is $4.27. Accolade, Inc. has a twelve month low of $3.08 and a twelve month high of $15.36. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $291.54 million, a price-to-earnings ratio of -3.51 and a beta of 2.07.

Accolade (NASDAQ:ACCD) last released its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The company had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter in the previous year, the company posted ($0.43) EPS. Accolade’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts forecast that Accolade, Inc. will post -0.92 EPS for the current fiscal year.

Insider Activity

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 42,355 shares of company stock valued at $152,253. Corporate insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

ACCD has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Accolade in a report on Monday, October 7th. Canaccord Genuity Group lowered their price target on shares of Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Stephens reduced their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Barclays lowered 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. Finally, Truist Financial cut their price target on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.04.

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.