Sumitomo Mitsui Trust Group Inc. lessened its holdings in Accolade, Inc. (NASDAQ:ACCD - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,766,480 shares of the company's stock after selling 123,643 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 2.17% of Accolade worth $6,041,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ACCD. Mission Creek Capital Partners Inc. purchased a new stake in Accolade during the 3rd quarter worth $38,000. Pallas Capital Advisors LLC purchased a new stake in Accolade during the 4th quarter worth $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Accolade during the 3rd quarter worth $46,000. Wolverine Trading LLC acquired a new position in Accolade during the 3rd quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew 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 in the last quarter. Hedge funds and other institutional investors own 84.99% of the company's stock.
Insider Activity at Accolade
In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares in the company, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 41,127 shares of company stock worth $164,674 in the last ninety days. 8.20% of the stock is owned by insiders.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Stifel Nicolaus reissued a "hold" rating and set a $7.03 price objective (down from $8.00) on shares of Accolade in a report on Thursday, January 9th. Canaccord Genuity Group reissued a "hold" rating on shares of Accolade in a report on Wednesday, January 8th. Stephens reissued an "equal weight" rating and set a $7.03 price objective on shares of Accolade in a report on Wednesday, February 12th. Truist Financial lowered shares of Accolade from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Finally, William Blair lowered shares of Accolade from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 8th. 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, Accolade presently has an average rating of "Hold" and an average target price of $7.46.
Read Our Latest Stock Analysis on Accolade
Accolade Stock Performance
NASDAQ:ACCD remained flat at $6.90 during mid-day trading on Monday. 1,204,984 shares of the company traded hands, compared to its average volume of 2,713,265. The stock has a market capitalization of $562.97 million, a PE ratio of -3.07 and a beta of 2.20. The stock's 50 day moving average is $5.38 and its 200 day moving average is $4.35. Accolade, Inc. has a 12-month low of $3.08 and a 12-month high of $13.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63.
Accolade (NASDAQ:ACCD - Get Free Report) last issued 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 net margin of 40.36% and a negative return on equity of 20.74%. As a group, equities research analysts anticipate that Accolade, Inc. will post -1.2 earnings per share for the current year.
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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