Accolade, Inc. (NASDAQ:ACCD) CFO Stephen H. Barnes Sells 5,640 Shares

Accolade, Inc. (NASDAQ:ACCD) CFO Stephen H. Barnes sold 5,640 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $20,304.00. Following the completion of the transaction, the chief financial officer now directly owns 219,623 shares of the company’s stock, valued at $790,642.80. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Accolade Stock Down 1.1 %

Shares of ACCD stock opened at $3.53 on Thursday. The stock has a market cap of $284.31 million, a price-to-earnings ratio of -3.43 and a beta of 2.07. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. Accolade, Inc. has a 52-week low of $3.08 and a 52-week high of $15.36. The firm’s 50-day moving average is $3.60 and its 200-day moving average is $4.37.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. The firm had revenue of $106.40 million for the quarter, compared to analysts’ expectations 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 revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.43) EPS. Sell-side analysts predict that Accolade, Inc. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, October 11th. Stephens reduced their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Truist Financial reduced their target price on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Canaccord Genuity Group reduced their target price on shares of Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays reduced their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.04.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACCD. Price T Rowe Associates Inc. MD increased its holdings in shares of Accolade by 15.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock worth $205,000 after purchasing an additional 2,586 shares during the period. Centiva Capital LP increased its holdings in shares of Accolade by 5.8% during the third quarter. Centiva Capital LP now owns 59,660 shares of the company’s stock worth $230,000 after purchasing an additional 3,264 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Accolade by 13.3% during 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. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Accolade by 22.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after purchasing an additional 3,789 shares during the period. Finally, Mission Creek Capital Partners Inc. acquired a new stake in shares of Accolade during the 3rd quarter worth approximately $38,000. 84.99% of the stock is owned by institutional investors.

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.