Accolade, Inc. (NASDAQ:ACCD) President Robert N. Cavanaugh Sells 5,582 Shares

Accolade, Inc. (NASDAQ:ACCD) President Robert N. Cavanaugh sold 5,582 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 $20,095.20. Following the transaction, the president now owns 212,445 shares in the company, valued at $764,802. This trade represents a 2.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Accolade Trading Up 4.2 %

NASDAQ:ACCD opened at $3.69 on Friday. The firm has a 50-day simple moving average of $3.59 and a 200-day simple moving average of $4.34. Accolade, Inc. has a one year low of $3.08 and a one year high of $15.36. The firm has a market cap of $297.18 million, a P/E ratio of -3.58 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 (NASDAQ:ACCD) last issued its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The company had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Accolade’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. Equities analysts anticipate that Accolade, Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Accolade

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in shares of Accolade by 244.7% in the 2nd quarter. Millennium Management LLC now owns 2,623,201 shares of the company’s stock valued at $9,391,000 after buying an additional 1,862,178 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new stake in Accolade in the third quarter valued at approximately $3,842,000. Clearline Capital LP purchased a new position in Accolade in the second quarter worth $2,974,000. Point72 Asset Management L.P. acquired a new position in shares of Accolade during the third quarter worth $2,378,000. Finally, Johnson Financial Group LLC purchased a new position in Accolade during the 3rd quarter worth $1,642,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ACCD shares. Canaccord Genuity Group cut their price target on shares of Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 target price on shares of Accolade in a research note on Monday, October 7th. Truist Financial decreased their price target on Accolade from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Barclays cut their price objective on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their target price on Accolade from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Friday, October 11th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.04.

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.