Accolade, Inc. (NASDAQ:ACCD) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,782,038 shares of the company’s stock after purchasing an additional 83,556 shares during the period. Geode Capital Management LLC’s holdings in Accolade were worth $6,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Accolade by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after buying an additional 3,789 shares during the period. Versor Investments LP purchased a new position in shares of Accolade in the second quarter worth approximately $150,000. Rhumbline Advisers raised its holdings in shares of Accolade by 22.5% during the second quarter. Rhumbline Advisers now owns 124,351 shares of the company’s stock valued at $445,000 after acquiring an additional 22,857 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Accolade during the second quarter valued at approximately $1,229,000. Finally, Blair William & Co. IL lifted its position in shares of Accolade by 73.1% in 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. Institutional investors and hedge funds own 84.99% of the company’s stock.

Accolade Price Performance

NASDAQ ACCD opened at $3.44 on Friday. 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 stock has a market capitalization of $277.05 million, a PE ratio of -3.34 and a beta of 2.07. Accolade, Inc. has a 12-month low of $3.08 and a 12-month high of $15.36. The company has a 50 day moving average price of $3.51 and a two-hundred day moving average price of $3.86.

Accolade (NASDAQ:ACCD) last issued its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $106.40 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same period in the prior year, the company posted ($0.43) earnings per share. Accolade’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Accolade, Inc. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACCD has been the topic of several research analyst reports. Stephens lowered their price objective on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Barclays lowered their price target on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of Accolade in a research note on Monday, October 7th. Canaccord Genuity Group lowered their target price on Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company reduced 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 report on Friday, October 11th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Accolade has an average rating of “Moderate Buy” and a consensus target price of $8.96.

Insider Buying and Selling

In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the 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 transaction, the chief executive officer now owns 814,316 shares in the company, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 38,843 shares of company stock worth $138,442. 8.20% of the stock is currently owned by insiders.

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.