Brown Advisory Inc. Has $72.17 Million Stake in Accolade, Inc. (NASDAQ:ACCD)

Brown Advisory Inc. boosted its stake in Accolade, Inc. (NASDAQ:ACCDGet Rating) by 97.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,103,950 shares of the company’s stock after buying an additional 2,029,528 shares during the quarter. Brown Advisory Inc. owned approximately 6.10% of Accolade worth $72,168,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Accolade by 48.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,473 shares of the company’s stock valued at $114,000 after buying an additional 2,103 shares during the last quarter. First Bank & Trust raised its position in Accolade by 53.7% in the 1st quarter. First Bank & Trust now owns 12,693 shares of the company’s stock valued at $223,000 after buying an additional 4,437 shares during the last quarter. Arizona State Retirement System raised its position in Accolade by 11.3% in the 4th quarter. Arizona State Retirement System now owns 9,781 shares of the company’s stock valued at $258,000 after buying an additional 991 shares during the last quarter. Clarius Group LLC purchased a new stake in shares of Accolade during the 4th quarter valued at $279,000. Finally, ProShare Advisors LLC increased its position in shares of Accolade by 70.3% during the 4th quarter. ProShare Advisors LLC now owns 10,996 shares of the company’s stock valued at $289,000 after purchasing an additional 4,541 shares during the last quarter. 81.43% of the stock is owned by hedge funds and other institutional investors.

Accolade Stock Performance

Shares of NASDAQ ACCD opened at $11.61 on Friday. The stock has a market cap of $826.75 million, a price-to-earnings ratio of -1.91 and a beta of 2.29. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 0.53. Accolade, Inc. has a 1-year low of $4.61 and a 1-year high of $49.47. The stock’s 50-day moving average is $8.24 and its 200 day moving average is $12.18.

Accolade (NASDAQ:ACCDGet Rating) last announced its quarterly earnings data on Thursday, June 30th. The company reported ($4.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($4.19). The firm had revenue of $85.53 million for the quarter, compared to analysts’ expectations of $81.97 million. Accolade had a negative net margin of 124.17% and a negative return on equity of 23.63%. The business’s quarterly revenue was up 43.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.52) earnings per share. On average, sell-side analysts anticipate that Accolade, Inc. will post -6.52 EPS for the current fiscal year.

Insider Activity at Accolade

In other news, CEO Rajeev Singh purchased 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were bought at an average cost of $10.09 per share, for a total transaction of $176,575.00. Following the completion of the transaction, the chief executive officer now directly owns 149,697 shares of the company’s stock, valued at approximately $1,510,442.73. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 7,205 shares of company stock worth $42,952 over the last ninety days. 7.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Canaccord Genuity Group cut their price target on Accolade from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, July 1st. Bank of America downgraded Accolade from a “buy” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $9.00 in a research note on Friday, April 29th. SVB Leerink downgraded Accolade from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $32.00 to $8.00 in a research note on Friday, April 29th. Berenberg Bank restated a “buy” rating and issued a $11.00 target price on shares of Accolade in a research note on Friday, July 1st. Finally, Stifel Nicolaus cut their target price on Accolade to $16.00 in a research note on Friday, April 29th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Accolade Company Profile

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Accolade, Inc, together with its subsidiaries, develops and provides 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 nurses, physician medical directors, and behavioral health specialists.

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Institutional Ownership by Quarter for Accolade (NASDAQ:ACCD)

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