Miracle Mile Advisors LLC Cuts Stake in Accolade, Inc. (NASDAQ:ACCD)

Miracle Mile Advisors LLC lessened its holdings in shares of Accolade, Inc. (NASDAQ:ACCDFree Report) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,427 shares of the company’s stock after selling 2,121 shares during the quarter. Miracle Mile Advisors LLC owned about 0.07% of Accolade worth $690,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ACCD. BluePath Capital Management LLC bought a new stake in shares of Accolade during the third quarter valued at approximately $28,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Accolade during the third quarter valued at approximately $28,000. State of Wyoming raised its position in shares of Accolade by 46.6% during the second quarter. State of Wyoming now owns 5,247 shares of the company’s stock valued at $71,000 after buying an additional 1,669 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in shares of Accolade during the second quarter valued at approximately $75,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Accolade by 37.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,100 shares of the company’s stock valued at $86,000 after buying an additional 3,000 shares during the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Rajeev Singh sold 36,199 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $15.00, for a total value of $542,985.00. Following the completion of the sale, the chief executive officer now directly owns 705,083 shares of the company’s stock, valued at $10,576,245. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 64,334 shares of company stock valued at $941,856 over the last three months. 8.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ACCD has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and issued a $17.00 price target on shares of Accolade in a research report on Friday, January 19th. SVB Leerink initiated coverage on shares of Accolade in a research report on Monday, February 26th. They issued an “outperform” rating and a $16.00 price target on the stock. Piper Sandler boosted their price target on shares of Accolade from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Truist Financial boosted their price target on shares of Accolade from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Finally, DA Davidson restated a “buy” rating on shares of Accolade in a research report on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.67.

Read Our Latest Analysis on ACCD

Accolade Stock Down 5.2 %

Shares of ACCD opened at $9.60 on Wednesday. The firm has a market capitalization of $743.12 million, a P/E ratio of -5.82 and a beta of 2.08. Accolade, Inc. has a 12-month low of $6.33 and a 12-month high of $17.00. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $10.95 and a 200-day moving average price of $10.08.

Accolade (NASDAQ:ACCDGet Free Report) last issued its earnings results on Monday, January 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.17. The firm had revenue of $99.37 million during the quarter, compared to analyst estimates of $96.16 million. Accolade had a negative net margin of 31.59% and a negative return on equity of 27.27%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.56) earnings per share. Equities research analysts expect that Accolade, Inc. will post -1.38 earnings per share for the current year.

Accolade Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ACCD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accolade, Inc. (NASDAQ:ACCDFree Report).

Institutional Ownership by Quarter for Accolade (NASDAQ:ACCD)

Receive News & Ratings for Accolade Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accolade and related companies with MarketBeat.com's FREE daily email newsletter.