Inspire Investing LLC Buys 10,537 Shares of Accolade, Inc. (NASDAQ:ACCD)

Inspire Investing LLC grew its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,216 shares of the company’s stock after buying an additional 10,537 shares during the period. Inspire Investing LLC owned approximately 0.15% of Accolade worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ACCD. Centiva Capital LP raised its position in shares of Accolade by 5.8% in the 3rd quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock valued at $230,000 after acquiring an additional 3,264 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Accolade by 13.3% in the second quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock worth $104,000 after purchasing an additional 3,416 shares during the period. Mission Creek Capital Partners Inc. bought a new position in shares of Accolade during the third quarter worth $38,000. SG Americas Securities LLC grew its holdings in shares of Accolade by 36.1% in the 4th quarter. SG Americas Securities LLC now owns 40,498 shares of the company’s stock valued at $139,000 after buying an additional 10,749 shares during the period. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Accolade in the 4th quarter valued at $38,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Accolade Stock Performance

ACCD opened at $6.89 on Monday. The business’s 50-day simple moving average is $4.41 and its 200 day simple moving average is $4.02. Accolade, Inc. has a 52-week low of $3.08 and a 52-week high of $13.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63. The firm has a market capitalization of $562.13 million, a PE ratio of -3.06 and a beta of 2.08.

Accolade (NASDAQ:ACCD) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. As a group, sell-side analysts expect that Accolade, Inc. will post -1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACCD has been the subject of a number of research analyst reports. Truist Financial cut Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Leerink Partnrs cut Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Raymond James restated a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. Barclays reduced their price target on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley cut their price objective on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.55.

Insider Buying and Selling at Accolade

In other news, CEO Rajeev Singh sold 13,357 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total value of $48,085.20. Following the sale, the chief executive officer now directly owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. This represents a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 41,947 shares of company stock worth $154,439 over the last quarter. 8.20% of the stock is currently owned by insiders.

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.