JFG Wealth Management LLC Buys Shares of 471,000 Accolade, Inc. (NASDAQ:ACCD)

JFG Wealth Management LLC bought a new stake in Accolade, Inc. (NASDAQ:ACCD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 471,000 shares of the company's stock, valued at approximately $5,657,000. Accolade comprises approximately 1.6% of JFG Wealth Management LLC's holdings, making the stock its 8th biggest holding. JFG Wealth Management LLC owned about 0.61% of Accolade at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. ARK Investment Management LLC lifted its position in Accolade by 12.6% in the fourth quarter. ARK Investment Management LLC now owns 6,805,208 shares of the company's stock valued at $81,731,000 after buying an additional 762,685 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Accolade by 3.1% during the third quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company's stock worth $55,903,000 after purchasing an additional 157,464 shares in the last quarter. Rock Springs Capital Management LP lifted its position in shares of Accolade by 3.3% during the third quarter. Rock Springs Capital Management LP now owns 2,913,000 shares of the company's stock worth $30,820,000 after purchasing an additional 93,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Accolade by 111.1% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,798,993 shares of the company's stock worth $19,033,000 after purchasing an additional 946,970 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Accolade by 8.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 521,423 shares of the company's stock worth $5,517,000 after purchasing an additional 41,043 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company's stock.

Accolade Price Performance

Accolade stock traded down $0.27 during midday trading on Wednesday, reaching $7.36. The company's stock had a trading volume of 1,013,663 shares, compared to its average volume of 744,290. Accolade, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $15.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.35 and a current ratio of 2.64. The stock's 50 day simple moving average is $9.42 and its 200 day simple moving average is $9.93. The firm has a market capitalization of $576.73 million, a PE ratio of -5.53 and a beta of 2.08.

Accolade (NASDAQ:ACCD - Get Free Report) last released its earnings results on Thursday, April 25th. The company reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.01. Accolade had a negative return on equity of 22.53% and a negative net margin of 24.09%. The company had revenue of $124.80 million during the quarter, compared to the consensus estimate of $123.91 million. During the same quarter last year, the company earned ($0.42) earnings per share. Accolade's quarterly revenue was up 26.1% compared to the same quarter last year. On average, equities research analysts forecast that Accolade, Inc. will post -1.15 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on ACCD shares. SVB Leerink started coverage on shares of Accolade in a research report on Monday, February 26th. They set an "outperform" rating and a $16.00 price target on the stock. Piper Sandler raised their target price on shares of Accolade from $12.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, January 9th. William Blair reaffirmed an "outperform" rating on shares of Accolade in a report on Tuesday, January 9th. Morgan Stanley reduced their target price on shares of Accolade from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Friday, April 26th. Finally, Raymond James raised their target price on shares of Accolade from $12.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Accolade has a consensus rating of "Moderate Buy" and an average price target of $14.67.

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 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.

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