Pilgrim Partners Asia Pte Ltd Invests $54,000 in Accolade, Inc. (NASDAQ:ACCD)

Pilgrim Partners Asia Pte Ltd acquired a new stake in Accolade, Inc. (NASDAQ:ACCD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,800 shares of the company’s stock, valued at approximately $54,000.

Several other hedge funds have also recently added to or reduced their stakes in ACCD. Pallas Capital Advisors LLC acquired a new stake in shares of Accolade in the fourth quarter valued at approximately $38,000. Wolverine Trading LLC purchased a new position in Accolade during the third quarter worth $51,000. RPO LLC acquired a new position in shares of Accolade in the fourth quarter worth $57,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Accolade by 49.9% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 17,804 shares of the company’s stock valued at $61,000 after acquiring an additional 5,929 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Accolade by 1,144.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock valued at $81,000 after acquiring an additional 19,232 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. William Blair cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Morgan Stanley cut their price target on Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Piper Sandler cut Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Stephens reiterated an “equal weight” rating and issued a $7.03 target price on shares of Accolade in a research note on Wednesday, February 12th. Thirteen analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Accolade presently has an average rating of “Hold” and an average price target of $6.51.

Accolade Stock Performance

Shares of ACCD stock opened at $7.03 on Friday. The company’s fifty day simple moving average is $6.95 and its 200-day simple moving average is $5.06. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. Accolade, Inc. has a 52 week low of $3.08 and a 52 week high of $9.67. The company has a market cap of $576.41 million, a PE ratio of -3.12 and a beta of 2.10.

Accolade (NASDAQ:ACCD) last announced its earnings results on Friday, January 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. As a group, equities research analysts anticipate that Accolade, Inc. will post -1.2 EPS for the current year.

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 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.