ARK Investment Management LLC Decreases Stock Holdings in Accolade, Inc. (NASDAQ:ACCD)

ARK Investment Management LLC reduced its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 13.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,663,613 shares of the company’s stock after selling 718,920 shares during the quarter. ARK Investment Management LLC owned approximately 5.72% of Accolade worth $15,950,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.03 target price (down from $8.00) on shares of Accolade in a research report on Thursday, January 9th. Truist Financial lowered Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Stephens reaffirmed an “equal weight” rating and set a $7.03 target price on shares of Accolade in a research report on Wednesday, February 12th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Finally, William Blair lowered Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.46.

Insider Buying and Selling

In related news, CEO Rajeev Singh sold 13,357 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total transaction of $48,085.20. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 40,751 shares of company stock valued at $164,404 over the last ninety days. Company insiders own 8.20% of the company’s stock.

Accolade Stock Up 0.4 %

Shares of ACCD stock opened at $6.95 on Wednesday. The stock’s 50-day simple moving average is $5.85 and its 200-day simple moving average is $4.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.63 and a current ratio of 2.63. The firm has a market capitalization of $567.02 million, a PE ratio of -3.09 and a beta of 2.19. Accolade, Inc. has a fifty-two week low of $3.08 and a fifty-two week high of $11.16.

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

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 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.