Accolade, Inc. (NASDAQ:ACCD) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC reduced its holdings in Accolade, Inc. (NASDAQ:ACCD) by 13.4% during the 4th quarter, Holdings Channel reports. The firm owned 4,663,613 shares of the company’s stock after selling 718,920 shares during the quarter. ARK Investment Management LLC owned approximately 0.06% of Accolade worth $15,950,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Whetstone Capital Advisors LLC acquired a new stake in Accolade in the 3rd quarter valued at $3,842,000. Johnson Financial Group LLC acquired a new stake in Accolade in the 3rd quarter valued at $1,642,000. Nisa Investment Advisors LLC grew its stake in Accolade by 15,113.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 55,680 shares of the company’s stock valued at $190,000 after acquiring an additional 55,314 shares during the period. Point72 Asset Management L.P. acquired a new stake in Accolade in the 3rd quarter valued at $2,378,000. Finally, Barclays PLC grew its stake in Accolade by 164.4% in the 3rd quarter. Barclays PLC now owns 139,901 shares of the company’s stock valued at $539,000 after acquiring an additional 86,981 shares during the period. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Accolade Trading Up 0.4 %

Shares of ACCD opened at $6.95 on Wednesday. The firm’s fifty day moving average is $5.85 and its two-hundred day moving average is $4.51. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67. The stock has a market cap of $567.02 million, a PE ratio of -3.09 and a beta of 2.19. Accolade, Inc. has a 52-week low of $3.08 and a 52-week high of $11.16.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. Research analysts forecast that Accolade, Inc. will post -1.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ACCD. Leerink Partnrs cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Stephens reissued an “equal weight” rating and issued a $7.03 price target on shares of Accolade in a research note on Wednesday, February 12th. Truist Financial cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Stifel Nicolaus reissued a “hold” rating and issued a $7.03 price target (down previously from $8.00) on shares of Accolade in a research note on Thursday, January 9th. Finally, Leerink Partners reaffirmed a “market perform” rating on shares of Accolade in a research note on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.46.

Insider Activity

In other news, CEO Rajeev Singh sold 13,357 shares of the business’s 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 transaction, the chief executive officer now owns 814,316 shares of the company’s stock, valued at approximately $2,931,537.60. The trade was a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 40,751 shares of company stock valued at $164,404. 8.20% of the stock is currently owned by insiders.

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.