ProShare Advisors LLC Boosts Position in Accolade, Inc. (NASDAQ:ACCD)

ProShare Advisors LLC boosted its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 49.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,574 shares of the company’s stock after acquiring an additional 6,771 shares during the quarter. ProShare Advisors LLC’s holdings in Accolade were worth $70,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in Accolade by 2.3% during the fourth quarter. Invesco Ltd. now owns 78,724 shares of the company’s stock valued at $269,000 after purchasing an additional 1,804 shares during the period. Rhumbline Advisers grew its holdings in Accolade by 1.7% during the fourth quarter. Rhumbline Advisers now owns 115,136 shares of the company’s stock valued at $394,000 after purchasing an additional 1,967 shares during the period. Dimensional Fund Advisors LP grew its holdings in Accolade by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,513,275 shares of the company’s stock valued at $5,175,000 after purchasing an additional 3,885 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Accolade by 16.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,673 shares of the company’s stock valued at $95,000 after purchasing an additional 3,982 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Accolade by 49.9% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 17,804 shares of the company’s stock valued at $61,000 after purchasing an additional 5,929 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

Accolade Stock Performance

ACCD opened at $7.02 on Wednesday. Accolade, Inc. has a 52 week low of $3.08 and a 52 week high of $7.03. The business has a fifty day simple moving average of $7.02 and a 200-day simple moving average of $6.09. The firm has a market cap of $575.59 million, a P/E 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ACCD. Piper Sandler lowered Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Stephens reaffirmed an “equal weight” rating and issued a $7.03 price objective on shares of Accolade in a research note on Wednesday, February 12th. Thirteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Accolade presently has an average rating of “Hold” and an average target price of $6.51.

Accolade Company 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.