Pallas Capital Advisors LLC Makes New Investment in Accolade, Inc. (NASDAQ:ACCD)

Pallas Capital Advisors LLC bought a new stake in Accolade, Inc. (NASDAQ:ACCD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,235 shares of the company’s stock, valued at approximately $38,000.

A number of other institutional investors have also modified their holdings of the stock. Mission Creek Capital Partners Inc. purchased a new position in Accolade in the 3rd quarter valued at $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Accolade during the third quarter worth about $46,000. Wolverine Trading LLC acquired a new position in Accolade during the 3rd quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. increased its position in Accolade by 1,144.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock worth $81,000 after purchasing an additional 19,232 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Accolade during the 3rd quarter worth approximately $96,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Canaccord Genuity Group reiterated a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Stephens downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Monday. Raymond James reaffirmed a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. William Blair lowered Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley dropped their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.55.

Insider Transactions at Accolade

In related news, CEO Rajeev Singh sold 13,357 shares of Accolade stock in a transaction 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 owns 814,316 shares in the company, valued at approximately $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 41,298 shares of company stock worth $149,987 in the last ninety days. Insiders own 8.20% of the company’s stock.

Accolade Stock Up 0.3 %

ACCD opened at $6.86 on Thursday. Accolade, Inc. has a 12 month low of $3.08 and a 12 month high of $13.93. The business has a 50-day moving average of $3.88 and a two-hundred day moving average of $3.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.72. The stock has a market capitalization of $552.48 million, a price-to-earnings ratio of -6.66 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last released its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. On average, research analysts expect that Accolade, Inc. will post -0.92 earnings per share for the current year.

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.