Charles Schwab Investment Management Inc. Has $2.19 Million Stake in Accolade, Inc. (NASDAQ:ACCD)

Charles Schwab Investment Management Inc. boosted its stake in Accolade, Inc. (NASDAQ:ACCD) by 4.8% in the third quarter, Holdings Channel reports. The institutional investor owned 569,201 shares of the company’s stock after acquiring an additional 26,155 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Accolade were worth $2,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ACCD. ARK Investment Management LLC grew its stake in Accolade by 0.5% in the 2nd quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock valued at $20,196,000 after buying an additional 28,405 shares during the last quarter. Millennium Management LLC lifted its holdings in 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 purchasing an additional 1,862,178 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Accolade by 18.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock valued at $7,203,000 after purchasing an additional 314,371 shares during the last quarter. Clearline Capital LP bought a new position in shares of Accolade in the second quarter worth about $2,974,000. Finally, GSA Capital Partners LLP raised its stake in shares of Accolade by 41.3% in the third quarter. GSA Capital Partners LLP now owns 460,052 shares of the company’s stock worth $1,771,000 after acquiring an additional 134,427 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

Insider Buying and Selling

In other news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This represents a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 42,346 shares of company stock worth $151,898. 8.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ACCD has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Truist Financial decreased their price objective 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. Canaccord Genuity Group reduced their price target on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of Accolade in a report on Monday, October 7th. Finally, Stephens reduced their price target on shares of Accolade from $10.00 to $8.00 and set an “overweight” 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 assigned a buy rating to the stock. Based on data from MarketBeat, Accolade has a consensus rating of “Moderate Buy” and a consensus price target of $9.04.

Accolade Stock Up 0.3 %

Shares of Accolade stock opened at $3.49 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. Accolade, Inc. has a 52-week low of $3.08 and a 52-week high of $15.36. The stock has a market capitalization of $281.07 million, a price-to-earnings ratio of -3.39 and a beta of 2.07. The company’s 50 day moving average price is $3.57 and its 200-day moving average price is $4.16.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) EPS 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 analyst estimates of $104.87 million. During the same quarter last year, the firm posted ($0.43) earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. 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.