ARK Investment Management LLC lowered its position in Accolade, Inc. (NASDAQ:ACCD - Free Report) by 13.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,663,613 shares of the company's stock after selling 718,920 shares during the period. ARK Investment Management LLC owned about 5.72% of Accolade worth $15,950,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Ieq Capital LLC boosted its holdings in Accolade by 99.1% in the 4th quarter. Ieq Capital LLC now owns 82,509 shares of the company's stock worth $282,000 after buying an additional 41,071 shares during the period. Rhumbline Advisers boosted its holdings in Accolade by 1.7% in the 4th quarter. Rhumbline Advisers now owns 115,136 shares of the company's stock worth $394,000 after buying an additional 1,967 shares during the period. Fairman Group LLC boosted its holdings in Accolade by 58.5% in the 4th quarter. Fairman Group LLC now owns 1,802,399 shares of the company's stock worth $6,164,000 after buying an additional 665,112 shares during the period. Savant Capital LLC boosted its holdings in Accolade by 182.1% in the 4th quarter. Savant Capital LLC now owns 52,794 shares of the company's stock worth $181,000 after buying an additional 34,082 shares during the period. Finally, Inspire Investing LLC lifted its stake in Accolade by 9.9% in the 4th quarter. Inspire Investing LLC now owns 117,216 shares of the company's stock worth $401,000 after purchasing an additional 10,537 shares in the last quarter. Institutional investors own 84.99% of the company's stock.
Accolade Price Performance
Shares of NASDAQ ACCD traded up $0.01 during mid-day trading on Friday, hitting $6.97. 1,514,221 shares of the company's stock traded hands, compared to its average volume of 2,797,326. The company's 50-day moving average is $6.07 and its two-hundred day moving average is $4.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63. The company has a market capitalization of $571.49 million, a P/E ratio of -3.10 and a beta of 2.20. Accolade, Inc. has a 1 year low of $3.08 and a 1 year high of $10.78.
Accolade (NASDAQ:ACCD - Get Free Report) last posted its quarterly earnings data 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%. On average, equities analysts anticipate that Accolade, Inc. will post -1.2 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts have commented on the stock. Canaccord Genuity Group reiterated a "hold" rating on shares of Accolade in a research note on Wednesday, January 8th. Leerink Partnrs cut shares of Accolade from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Raymond James reiterated a "market perform" rating on shares of Accolade in a research note on Thursday, January 9th. Needham & Company LLC reiterated a "hold" rating on shares of Accolade in a research note on Wednesday, January 8th. Finally, William Blair cut shares of Accolade from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.51.
Read Our Latest Stock Analysis on ACCD
Insiders Place Their Bets
In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the transaction, the chief executive officer now directly owns 814,316 shares in the company, 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 this hyperlink. Insiders have sold 40,751 shares of company stock worth $164,404 in the last three months. Corporate insiders own 8.20% of the company's stock.
Accolade Company Profile
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Free Report)
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.
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