Requisite Capital Management LLC purchased a new position in shares of Accolade, Inc. (NASDAQ:ACCD – Free Report) during the third quarter, Holdings Channel.com reports. The fund purchased 118,500 shares of the company’s stock, valued at approximately $456,000.
A number of other large investors have also modified their holdings of ACCD. ARK Investment Management LLC boosted its position in Accolade by 0.5% in the second quarter. ARK Investment Management LLC now owns 5,641,448 shares of the company’s stock valued at $20,196,000 after buying an additional 28,405 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Accolade by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,403,256 shares of the company’s stock valued at $56,626,000 after acquiring an additional 77,044 shares during the period. Bellevue Group AG lifted its holdings in Accolade by 6.6% in the first quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock valued at $50,351,000 after acquiring an additional 297,110 shares during the period. Millennium Management LLC lifted its holdings in Accolade by 244.7% in the second quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after acquiring an additional 1,862,178 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Accolade by 18.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock valued at $7,203,000 after acquiring an additional 314,371 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.
Accolade Trading Down 2.1 %
Shares of NASDAQ ACCD traded down $0.08 during mid-day trading on Friday, reaching $3.79. 1,708,933 shares of the company’s stock were exchanged, compared to its average volume of 1,064,328. The firm has a market capitalization of $305.25 million, a price-to-earnings ratio of -3.68 and a beta of 1.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.80 and a current ratio of 2.72. Accolade, Inc. has a 52-week low of $3.35 and a 52-week high of $15.36. The company’s 50-day moving average is $4.02 and its 200-day moving average is $5.73.
Wall Street Analyst Weigh In
ACCD has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price target on Accolade from $13.00 to $8.00 and set a “buy” rating for the company in a report on Friday, June 28th. Barclays reduced their target price on Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday. Wells Fargo & Company reduced their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday. Morgan Stanley reduced their target price on Accolade from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Finally, Guggenheim reduced their target price on Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.04.
Check Out Our Latest Stock Analysis on ACCD
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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.
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