Accolade, Inc. (NASDAQ:ACCD) President Robert N. Cavanaugh Sells 5,582 Shares

Accolade, Inc. (NASDAQ:ACCD) President Robert N. Cavanaugh sold 5,582 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $3.60, for a total value of $20,095.20. Following the completion of the sale, the president now directly owns 212,445 shares of the company’s stock, valued at approximately $764,802. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Accolade Stock Performance

Shares of NASDAQ:ACCD traded down $0.03 during trading on Wednesday, hitting $3.54. 687,313 shares of the stock were exchanged, compared to its average volume of 1,094,706. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.72 and a current ratio of 2.72. The company has a market capitalization of $285.11 million, a price-to-earnings ratio of -3.44 and a beta of 2.07. Accolade, Inc. has a 1-year low of $3.08 and a 1-year high of $15.36. The company’s fifty day simple moving average is $3.60 and its 200-day simple moving average is $4.38.

Accolade (NASDAQ:ACCD) last posted its earnings results on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. The business had revenue of $106.40 million during the quarter, compared to the consensus estimate of $104.87 million. Accolade had a negative return on equity of 18.43% and a negative net margin of 18.16%. Accolade’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) EPS. Sell-side analysts expect that Accolade, Inc. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Accolade

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mission Creek Capital Partners Inc. bought a new position in Accolade in the 3rd quarter valued at $38,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Accolade in the 3rd quarter valued at $46,000. SG Americas Securities LLC bought a new position in Accolade in the 2nd quarter valued at $43,000. Wolverine Trading LLC bought a new position in Accolade in the 3rd quarter valued at $51,000. Finally, Price T Rowe Associates Inc. MD raised its position in Accolade by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,540 shares of the company’s stock valued at $205,000 after purchasing an additional 2,586 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ACCD shares. Canaccord Genuity Group cut their price target on Accolade from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price target on shares of Accolade in a research note on Monday, October 7th. Barclays lowered their price objective on Accolade from $5.50 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. Stephens lowered their price objective on Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, Wells Fargo & Company lowered their price objective on Accolade from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Accolade has an average rating of “Moderate Buy” and an average price target of $9.04.

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.