Whetstone Capital Advisors LLC Grows Position in Accolade, Inc. (NASDAQ:ACCD)

Whetstone Capital Advisors LLC grew its holdings in shares of Accolade, Inc. (NASDAQ:ACCD - Free Report) by 58.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,585,643 shares of the company's stock after buying an additional 587,754 shares during the quarter. Accolade accounts for approximately 1.7% of Whetstone Capital Advisors LLC's holdings, making the stock its 20th biggest holding. Whetstone Capital Advisors LLC owned approximately 1.94% of Accolade worth $5,423,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ACCD. Kennedy Capital Management LLC lifted its position in Accolade by 40.9% in the fourth quarter. Kennedy Capital Management LLC now owns 1,065,757 shares of the company's stock worth $3,645,000 after buying an additional 309,201 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Accolade in the 4th quarter worth about $120,000. Invesco Ltd. boosted its position in shares of Accolade by 2.3% during the fourth quarter. Invesco Ltd. now owns 78,724 shares of the company's stock valued at $269,000 after buying an additional 1,804 shares during the period. Cerity Partners LLC grew its stake in shares of Accolade by 11.2% during the fourth quarter. Cerity Partners LLC now owns 59,373 shares of the company's stock valued at $203,000 after buying an additional 5,987 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Accolade during the 4th quarter worth approximately $54,000. 84.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. William Blair lowered shares of Accolade from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Stifel Nicolaus reaffirmed a "hold" rating and set a $7.03 price target (down previously from $8.00) on shares of Accolade in a research note on Thursday, January 9th. Stephens restated an "equal weight" rating and set a $7.03 price objective on shares of Accolade in a report on Wednesday, February 12th. Piper Sandler downgraded Accolade from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Leerink Partnrs downgraded Accolade from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 8th. Thirteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.51.

Accolade Price Performance

Shares of NASDAQ ACCD remained flat at $7.02 during trading hours on Wednesday. The stock has a market capitalization of $575.59 million, a price-to-earnings ratio of -3.12 and a beta of 2.10. Accolade, Inc. has a 52 week low of $3.08 and a 52 week high of $9.67. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. The firm's 50 day moving average is $6.97 and its 200-day moving average is $5.24.

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.