Los Angeles Capital Management LLC Boosts Stake in Accolade, Inc. (NASDAQ:ACCD)

Los Angeles Capital Management LLC lifted its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 233.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,149 shares of the company’s stock after acquiring an additional 39,330 shares during the quarter. Los Angeles Capital Management LLC owned 0.07% of Accolade worth $588,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its position in shares of Accolade by 10.8% during the 3rd quarter. Barclays PLC now owns 37,630 shares of the company’s stock worth $398,000 after purchasing an additional 3,671 shares during the last quarter. Swiss National Bank raised its position in shares of Accolade by 4.9% during the 3rd quarter. Swiss National Bank now owns 149,600 shares of the company’s stock worth $1,583,000 after purchasing an additional 7,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Accolade by 8.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 521,423 shares of the company’s stock worth $5,517,000 after purchasing an additional 41,043 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Accolade during the 3rd quarter worth about $28,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Accolade during the 3rd quarter worth about $516,000. 84.99% of the stock is owned by hedge funds and other institutional investors.

Accolade Stock Performance

Accolade stock opened at $5.97 on Wednesday. The firm has a 50 day simple moving average of $7.31 and a 200-day simple moving average of $9.75. Accolade, Inc. has a 1-year low of $5.88 and a 1-year high of $15.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.64 and a quick ratio of 2.64. The stock has a market cap of $467.81 million, a price-to-earnings ratio of -4.49 and a beta of 2.11.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $124.80 million during the quarter, compared to analysts’ expectations of $123.91 million. Accolade had a negative net margin of 24.09% and a negative return on equity of 22.53%. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.42) EPS. On average, analysts expect that Accolade, Inc. will post -1.23 EPS for the current year.

Analyst Ratings Changes

ACCD has been the subject of several research analyst reports. Guggenheim reduced their price target on shares of Accolade from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Canaccord Genuity Group cut their price objective on shares of Accolade from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, April 26th. Wells Fargo & Company cut their price objective on shares of Accolade from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Barclays cut their price objective on shares of Accolade from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Accolade in a report on Monday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.14.

Insider Buying and Selling

In related news, CAO Colin Mchugh sold 5,543 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $6.62, for a total transaction of $36,694.66. Following the completion of the transaction, the chief accounting officer now owns 50,177 shares of the company’s stock, valued at approximately $332,171.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 14,746 shares of company stock valued at $104,586. Company insiders own 8.30% of the company’s stock.

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.