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

MetLife Investment Management LLC cut its holdings in Accolade, Inc. (NASDAQ:ACCD) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in Accolade by 244.7% in the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after buying an additional 1,862,178 shares during the period. Whetstone Capital Advisors LLC bought a new position in shares of Accolade during the third quarter valued at approximately $3,842,000. Clearline Capital LP purchased a new stake in Accolade in the second quarter worth $2,974,000. Johnson Financial Group LLC bought a new stake in Accolade in the third quarter valued at $1,642,000. Finally, Acadian Asset Management LLC bought a new stake in Accolade in the second quarter valued at $1,229,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Insider Activity at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, 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 legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 42,355 shares of company stock valued at $152,253. 8.20% of the stock is owned by corporate insiders.

Accolade Price Performance

ACCD opened at $3.62 on Tuesday. The firm has a market cap of $291.54 million, a PE ratio of -3.51 and a beta of 2.07. The stock has a 50-day moving average price of $3.58 and a 200-day moving average price of $4.27. Accolade, Inc. has a 1 year low of $3.08 and a 1 year high of $15.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company dropped their target price 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. Canaccord Genuity Group cut their price objective on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of Accolade in a report on Monday, October 7th. Barclays lowered their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Finally, Stephens reduced their price target on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.04.

Accolade Company 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.