Requisite Capital Management LLC Purchases New Stake in Accolade, Inc. (NASDAQ:ACCD)

Requisite Capital Management LLC purchased a new stake in shares of Accolade, Inc. (NASDAQ:ACCD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 118,500 shares of the company’s stock, valued at approximately $456,000. Requisite Capital Management LLC owned about 0.15% of Accolade as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACCD. SG Americas Securities LLC bought a new position in Accolade in the 2nd quarter worth $43,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Accolade by 22.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,373 shares of the company’s stock worth $73,000 after purchasing an additional 3,789 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Accolade in the 1st quarter worth $87,000. The Manufacturers Life Insurance Company raised its holdings in Accolade by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,160 shares of the company’s stock worth $104,000 after purchasing an additional 3,416 shares in the last quarter. Finally, Versor Investments LP bought a new position in Accolade in the 2nd quarter worth $150,000. 84.99% of the stock is currently owned by institutional investors.

Accolade Price Performance

ACCD traded down $0.08 during trading on Friday, reaching $3.79. 1,708,933 shares of the company traded hands, compared to its average volume of 1,064,328. The firm has a fifty day simple moving average of $4.02 and a 200 day simple moving average of $5.73. Accolade, Inc. has a 12-month low of $3.35 and a 12-month high of $15.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.80 and a current ratio of 2.72. The company has a market cap of $305.25 million, a P/E ratio of -3.68 and a beta of 1.99.

Accolade (NASDAQ:ACCD) last posted its quarterly earnings data on Tuesday, October 8th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.14. The company had revenue of $106.40 million during the quarter, compared to analyst estimates of $104.87 million. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. Accolade’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.43) earnings per share. On average, equities analysts forecast that Accolade, Inc. will post -1.09 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on ACCD. Barclays decreased their price objective on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday. Guggenheim decreased their price objective on shares of Accolade from $13.00 to $6.00 and set a “buy” rating for the company in a report on Friday, June 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Accolade in a research report on Monday, October 7th. Canaccord Genuity Group reduced their target price on shares of Accolade from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Stephens reduced their target price on shares of Accolade from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.04.

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.