Accolade, Inc. (NASDAQ:ACCD) Holdings Reduced by Clearline Capital LP

Clearline Capital LP lessened its holdings in shares of Accolade, Inc. (NASDAQ:ACCD) by 84.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,881 shares of the company’s stock after selling 1,301,697 shares during the period. Clearline Capital LP’s holdings in Accolade were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. D. E. Shaw & Co. Inc. grew its stake in shares of Accolade by 77.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,280,783 shares of the company’s stock worth $7,800,000 after purchasing an additional 998,423 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Accolade by 40.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 668,738 shares of the company’s stock valued at $2,287,000 after buying an additional 193,754 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in Accolade during the 4th quarter valued at about $106,000. BNP Paribas Financial Markets bought a new stake in shares of Accolade during the 4th quarter worth about $295,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Accolade by 255.0% in the 4th quarter. Ameriprise Financial Inc. now owns 53,753 shares of the company’s stock worth $184,000 after acquiring an additional 38,611 shares during the period. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Accolade Price Performance

ACCD opened at $7.02 on Thursday. The firm has a market capitalization of $575.59 million, a P/E ratio of -3.12 and a beta of 2.10. The stock has a fifty day moving average of $7.00 and a 200-day moving average of $5.59. 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, Inc. has a 12-month low of $3.08 and a 12-month high of $8.05.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ACCD shares. Leerink Partners reissued a “market perform” rating on shares of Accolade in a report on Wednesday, January 8th. Leerink Partnrs downgraded Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Raymond James reaffirmed a “market perform” rating on shares of Accolade in a report on Thursday, January 9th. Truist Financial downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Piper Sandler cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.51.

About Accolade

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.