Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Accolade, Inc. (NASDAQ:ACCD - Free Report) by 84.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 634,470 shares of the company's stock after buying an additional 289,747 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.78% of Accolade worth $2,170,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Fairman Group LLC grew its position in Accolade by 58.5% during the fourth 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 in the last quarter. Geode Capital Management LLC grew its position in Accolade by 4.9% during the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company's stock worth $6,862,000 after buying an additional 83,556 shares in the last quarter. Clearline Capital LP grew its position in Accolade by 85.3% during the third quarter. Clearline Capital LP now owns 1,539,578 shares of the company's stock worth $5,927,000 after buying an additional 708,794 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new stake in Accolade during the third quarter worth approximately $3,842,000. Finally, Point72 Asset Management L.P. acquired a new stake in Accolade during the third quarter worth approximately $2,378,000. Institutional investors and hedge funds own 84.99% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Truist Financial cut Accolade from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Leerink Partners restated a "market perform" rating on shares of Accolade in a research note on Wednesday, January 8th. Needham & Company LLC restated a "hold" rating on shares of Accolade in a research note on Wednesday, January 8th. Raymond James restated a "market perform" rating on shares of Accolade in a research note on Thursday, January 9th. Finally, Piper Sandler cut Accolade from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Accolade has a consensus rating of "Hold" and an average target price of $6.51.
Get Our Latest Analysis on ACCD
Accolade Price Performance
Shares of ACCD traded up $0.02 during trading hours on Friday, reaching $7.01. The stock had a trading volume of 1,322,583 shares, compared to its average volume of 1,397,250. Accolade, Inc. has a 12 month low of $3.08 and a 12 month high of $10.68. The stock has a market capitalization of $574.77 million, a PE ratio of -3.12 and a beta of 2.18. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63. The company's 50-day moving average is $6.92 and its two-hundred day moving average is $4.85.
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, beating analysts' consensus estimates of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. Research analysts expect that Accolade, Inc. will post -1.2 EPS for the current year.
About Accolade
(
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.
Further Reading
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