The Manufacturers Life Insurance Company Raises Holdings in Accolade, Inc. (NASDAQ:ACCD)

The Manufacturers Life Insurance Company boosted its position in Accolade, Inc. (NASDAQ:ACCD) by 13.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,160 shares of the company’s stock after acquiring an additional 3,416 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Accolade were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of Accolade by 244.7% during the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock worth $9,391,000 after purchasing an additional 1,862,178 shares during the period. AQR Capital Management LLC lifted its position in Accolade by 33.5% during the second quarter. AQR Capital Management LLC now owns 75,330 shares of the company’s stock valued at $270,000 after buying an additional 18,885 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Accolade during the second quarter valued at approximately $1,041,000. Cubist Systematic Strategies LLC grew its stake in Accolade by 273.4% during the second quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock worth $931,000 after buying an additional 190,396 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Accolade in the second quarter worth $297,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

ACCD has been the topic of several recent research reports. Morgan Stanley reduced their target price on shares of Accolade from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price objective on shares of Accolade in a research report on Monday, October 7th. Truist Financial reduced their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Stifel Nicolaus lowered their target price on Accolade from $13.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, Barclays dropped their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.04.

Accolade Price Performance

ACCD stock opened at $3.50 on Monday. The stock’s 50 day moving average is $4.02 and its two-hundred day moving average is $5.44. Accolade, Inc. has a 52-week low of $3.35 and a 52-week high of $15.36. The company has a market capitalization of $280.03 million, a PE ratio of -3.02 and a beta of 1.99. The company has a quick ratio of 2.80, a current ratio of 2.72 and a debt-to-equity ratio of 0.49.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The business had revenue of $106.40 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company earned ($0.43) earnings per share. Analysts predict that Accolade, Inc. will post -1.09 earnings per share for the current fiscal 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.