William Blair cut shares of Accolade (NASDAQ:ACCD – Free Report) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.
Other equities analysts have also recently issued reports about the stock. Leerink Partnrs cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Raymond James restated a “market perform” rating on shares of Accolade in a research report on Thursday. Truist Financial reduced their price objective on shares of Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, October 9th. 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 report on Wednesday, October 9th. Finally, 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 report on Friday, October 11th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.55.
Accolade (NASDAQ:ACCD – Get Free Report) last posted its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Equities research analysts anticipate that Accolade will post -0.92 earnings per share for the current year.
In other Accolade news, CEO Rajeev Singh sold 13,357 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $3.60, for a total transaction of $48,085.20. Following the completion of the transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at $2,931,537.60. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 40,881 shares of company stock valued at $144,987. 8.20% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of ACCD. Rhumbline Advisers boosted its stake in Accolade by 22.5% during the second quarter. Rhumbline Advisers now owns 124,351 shares of the company’s stock worth $445,000 after buying an additional 22,857 shares during the period. Acadian Asset Management LLC purchased a new position in Accolade during the second quarter worth about $1,229,000. Blair William & Co. IL lifted its position in shares of Accolade by 73.1% during the second quarter. Blair William & Co. IL now owns 79,834 shares of the company’s stock worth $286,000 after purchasing an additional 33,725 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Accolade by 64.4% during the second quarter. XTX Topco Ltd now owns 49,454 shares of the company’s stock worth $177,000 after purchasing an additional 19,369 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in shares of Accolade by 179.7% during the second quarter. Inspire Investing LLC now owns 96,021 shares of the company’s stock worth $344,000 after purchasing an additional 61,688 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.
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.
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