Tocqueville Asset Management L.P. Acquires 290,000 Shares of Accolade, Inc. (NASDAQ:ACCD)

Tocqueville Asset Management L.P. increased its holdings in shares of Accolade, Inc. (NASDAQ:ACCD - Free Report) by 100.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 580,000 shares of the company's stock after buying an additional 290,000 shares during the period. Tocqueville Asset Management L.P. owned 0.71% of Accolade worth $1,984,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ACCD. Mission Creek Capital Partners Inc. acquired a new position in shares of Accolade in the 3rd quarter valued at $38,000. Pallas Capital Advisors LLC acquired a new position in Accolade in the fourth quarter valued at about $38,000. Wolverine Trading LLC bought a new position in Accolade during the third quarter worth about $51,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of 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 buying an additional 19,232 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Accolade in the 3rd quarter valued at about $96,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ACCD. Piper Sandler cut shares of Accolade from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Morgan Stanley dropped their price objective on Accolade from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Tuesday, December 17th. Leerink Partners reissued a "market perform" rating on shares of Accolade in a research note on Wednesday, January 8th. Truist Financial lowered Accolade from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of Accolade in a report on Wednesday, January 8th. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $6.51.

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Accolade Stock Down 0.1 %

NASDAQ ACCD traded down $0.01 during trading hours on Monday, hitting $7.00. 187,235 shares of the company traded hands, compared to its average volume of 1,396,820. The stock has a market capitalization of $573.95 million, a price-to-earnings ratio of -3.11 and a beta of 2.18. Accolade, Inc. has a twelve month low of $3.08 and a twelve month high of $10.68. The business's 50-day moving average is $6.92 and its 200-day moving average is $4.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63.

Accolade (NASDAQ:ACCD - Get Free Report) last issued its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. Sell-side analysts anticipate that Accolade, Inc. will post -1.2 earnings per share 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.