Corebridge Financial Inc. Sells 2,742 Shares of Accolade, Inc. (NASDAQ:ACCD)

Corebridge Financial Inc. decreased its position in Accolade, Inc. (NASDAQ:ACCD) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,319 shares of the company’s stock after selling 2,742 shares during the period. Corebridge Financial Inc.’s holdings in Accolade were worth $124,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Fairman Group LLC lifted its stake in shares of Accolade by 58.5% in the 4th quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock valued at $6,164,000 after purchasing an additional 665,112 shares during the period. Geode Capital Management LLC increased its holdings in Accolade by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,782,038 shares of the company’s stock worth $6,862,000 after purchasing an additional 83,556 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Accolade by 84.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 634,470 shares of the company’s stock worth $2,170,000 after purchasing an additional 289,747 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Accolade by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 611,731 shares of the company’s stock valued at $2,092,000 after buying an additional 42,530 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its holdings in shares of Accolade by 100.0% during the 4th quarter. Tocqueville Asset Management L.P. now owns 580,000 shares of the company’s stock worth $1,984,000 after buying an additional 290,000 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

Accolade Price Performance

Shares of NASDAQ:ACCD opened at $7.02 on Tuesday. The business’s 50 day moving average is $6.97 and its 200 day moving average is $5.23. Accolade, Inc. has a 12-month low of $3.08 and a 12-month high of $9.67. The stock has a market cap of $575.59 million, a price-to-earnings ratio of -3.12 and a beta of 2.10. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ACCD shares. Truist Financial downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Leerink Partners reiterated a “market perform” rating on shares of Accolade in a report on Wednesday, January 8th. Stephens restated an “equal weight” rating and issued a $7.03 target price on shares of Accolade in a research note on Wednesday, February 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.03 price target (down from $8.00) on shares of Accolade in a research note on Thursday, January 9th. Finally, Morgan Stanley reduced their price objective on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Thirteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Accolade has an average rating of “Hold” and an average target price of $6.51.

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.