SG Americas Securities LLC Acquires 17,850 Shares of Accolade, Inc. (NASDAQ:ACCD)

SG Americas Securities LLC lifted its position in Accolade, Inc. (NASDAQ:ACCD) by 150.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,749 shares of the company’s stock after purchasing an additional 17,850 shares during the quarter. SG Americas Securities LLC’s holdings in Accolade were worth $115,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ACCD. Bellevue Group AG grew its holdings in Accolade by 6.6% during the 1st quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock worth $50,351,000 after acquiring an additional 297,110 shares during the last quarter. Clearline Capital LP bought a new stake in Accolade during the 2nd quarter worth approximately $2,974,000. Cubist Systematic Strategies LLC grew its stake in shares of Accolade by 273.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock worth $931,000 after acquiring an additional 190,396 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Accolade during the 2nd quarter worth approximately $1,229,000. Finally, Algert Global LLC grew its stake in shares of Accolade by 153.5% in the second quarter. Algert Global LLC now owns 354,119 shares of the company’s stock valued at $1,268,000 after buying an additional 214,441 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACCD. Canaccord Genuity Group cut their price target on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Barclays dropped their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Stephens dropped their target price on Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Truist Financial decreased their target price on Accolade from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their price target on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.04.

Accolade Price Performance

Shares of ACCD opened at $3.19 on Friday. Accolade, Inc. has a 52-week low of $3.13 and a 52-week high of $15.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.80 and a current ratio of 2.72. The business’s 50 day moving average price is $3.94 and its two-hundred day moving average price is $5.29. The firm has a market cap of $255.23 million, a PE ratio of -2.75 and a beta of 1.99.

Accolade (NASDAQ:ACCD) last issued its 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. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. The company had revenue of $106.40 million for the quarter, compared to analyst estimates of $104.87 million. During the same period in the prior year, the firm earned ($0.43) earnings per share. Accolade’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that Accolade, Inc. will post -1.09 EPS for the current year.

About Accolade

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.