Accolade, Inc. (NASDAQ:ACCD) Holdings Cut by Marshall Wace LLP

Marshall Wace LLP decreased its stake in Accolade, Inc. (NASDAQ:ACCD) by 69.3% in the second quarter, Holdings Channel reports. The institutional investor owned 23,792 shares of the company’s stock after selling 53,692 shares during the quarter. Marshall Wace LLP’s holdings in Accolade were worth $85,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ARK Investment Management LLC lifted its position in Accolade by 0.5% in the 2nd quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock worth $20,196,000 after buying an additional 28,405 shares in the last quarter. Vanguard Group Inc. lifted its position in Accolade by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock worth $56,626,000 after buying an additional 77,044 shares in the last quarter. Bellevue Group AG raised its holdings in shares of Accolade by 6.6% during the 1st quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after purchasing an additional 297,110 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Accolade by 18.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock valued at $7,203,000 after purchasing an additional 314,371 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Accolade during the 2nd quarter valued at $1,229,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Analysts Set New Price Targets

ACCD has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of Accolade in a report on Monday, October 7th. Wells Fargo & Company cut their price target on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday. Stifel Nicolaus cut their price target on shares of Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Guggenheim cut their price target on shares of Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Morgan Stanley lowered their target price on shares of Accolade from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Accolade has a consensus rating of “Moderate Buy” and an average price target of $9.04.

Accolade Stock Performance

NASDAQ ACCD opened at $3.79 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.72 and a quick ratio of 2.80. The firm has a market capitalization of $305.25 million, a price-to-earnings ratio of -3.68 and a beta of 1.99. The company’s fifty day moving average is $4.02 and its two-hundred day moving average is $5.67. Accolade, Inc. has a 52-week low of $3.35 and a 52-week high of $15.36.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. The company had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted ($0.43) EPS. Equities research analysts forecast that Accolade, Inc. will post -1.09 EPS for the current year.

Accolade Company 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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.