HighTower Advisors LLC Reduces Stock Holdings in Accolade, Inc. (NASDAQ:ACCD)

HighTower Advisors LLC decreased its holdings in Accolade, Inc. (NASDAQ:ACCD - Free Report) by 73.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,500 shares of the company's stock after selling 112,761 shares during the period. HighTower Advisors LLC owned 0.05% of Accolade worth $142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pallas Capital Advisors LLC bought a new position in Accolade in the 4th quarter worth about $38,000. Wolverine Trading LLC purchased a new position in Accolade during the third quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. increased its holdings 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 acquiring an additional 19,232 shares during the period. Intech Investment Management LLC purchased a new stake in Accolade in the 3rd quarter worth approximately $96,000. Finally, Raymond James Financial Inc. purchased a new stake in Accolade in the 4th quarter worth approximately $120,000. Institutional investors own 84.99% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACCD shares. William Blair cut shares of Accolade from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 8th. Stifel Nicolaus reaffirmed a "hold" rating and issued a $7.03 price target (down previously from $8.00) on shares of Accolade in a report on Thursday, January 9th. Raymond James reissued a "market perform" rating on shares of Accolade in a report on Thursday, January 9th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of Accolade in a research note on Wednesday, January 8th. Finally, Truist Financial cut shares of Accolade from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $6.51.

Accolade Trading Down 0.1 %

Shares of NASDAQ ACCD traded down $0.01 during midday trading on Wednesday, reaching $7.02. The company had a trading volume of 4,585,600 shares, compared to its average volume of 1,437,490. The stock has a market cap of $575.59 million, a PE ratio of -3.12 and a beta of 2.10. Accolade, Inc. has a one year low of $3.08 and a one year high of $9.67. The firm's fifty day moving average price is $6.96 and its 200-day moving average price is $5.16. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67.

Accolade (NASDAQ:ACCD - Get Free Report) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. On average, equities research analysts anticipate that Accolade, Inc. will post -1.2 earnings per share for the current year.

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.