Bellevue Group AG Has $2.47 Million Stock Holdings in Accolade, Inc. (NASDAQ:ACCD)

Bellevue Group AG trimmed its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 23.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 640,865 shares of the company’s stock after selling 201,712 shares during the quarter. Bellevue Group AG owned 0.80% of Accolade worth $2,467,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Clearline Capital LP bought a new position in Accolade during the second quarter worth about $2,974,000. Whetstone Capital Advisors LLC bought a new position in shares of Accolade during the 3rd quarter valued at about $3,842,000. Cubist Systematic Strategies LLC grew its position in shares of Accolade by 273.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock valued at $931,000 after purchasing an additional 190,396 shares during the period. Acadian Asset Management LLC bought a new stake in Accolade during the 2nd quarter worth approximately $1,229,000. Finally, Johnson Financial Group LLC acquired a new stake in Accolade during the 3rd quarter worth approximately $1,642,000. Institutional investors own 84.99% of the company’s stock.

Accolade Stock Performance

NASDAQ ACCD opened at $3.86 on Friday. The firm has a market capitalization of $310.88 million, a P/E ratio of -3.75 and a beta of 2.02. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average price is $3.61 and its two-hundred day moving average price is $4.45. Accolade, Inc. has a 1 year low of $3.08 and a 1 year high of $15.36.

Accolade (NASDAQ:ACCD) last issued its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same period in the prior year, the firm earned ($0.43) EPS. Accolade’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Accolade, Inc. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACCD shares. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price target on shares of Accolade in a report on Monday, October 7th. Canaccord Genuity Group cut their price objective on shares of Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Barclays lowered 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. Wells Fargo & Company cut 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. Finally, Truist Financial decreased their price objective on Accolade from $9.00 to $7.50 and set a “buy” rating for the company 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 company’s stock. Based on data from MarketBeat, Accolade currently has an average rating of “Moderate Buy” and a consensus target price of $9.04.

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.