Nikko Asset Management Americas Inc. Has $6.02 Million Stake in Accolade, Inc. (NASDAQ:ACCD)

Nikko Asset Management Americas Inc. trimmed its holdings in shares of Accolade, Inc. (NASDAQ:ACCD) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,766,480 shares of the company’s stock after selling 120,531 shares during the period. Nikko Asset Management Americas Inc. owned 2.17% of Accolade worth $6,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mission Creek Capital Partners Inc. bought a new position in shares of Accolade in the 3rd quarter worth $38,000. Pallas Capital Advisors LLC acquired a new position in Accolade during the fourth quarter worth approximately $38,000. Wolverine Trading LLC bought a new stake in shares of Accolade during the third quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings 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 worth $81,000 after acquiring an additional 19,232 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Accolade in the third quarter valued at approximately $96,000. 84.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Raymond James reissued a “market perform” rating on shares of Accolade in a research report on Thursday, January 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Accolade in a research report on Wednesday, January 8th. Piper Sandler cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, William Blair cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Thirteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Accolade currently has an average rating of “Hold” and an average target price of $6.51.

Accolade Price Performance

ACCD stock opened at $6.98 on Monday. The firm’s 50-day moving average price is $6.77 and its two-hundred day moving average price is $4.77. The stock has a market capitalization of $572.31 million, a price-to-earnings ratio of -3.10 and a beta of 2.18. 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 12-month low of $3.08 and a 12-month high of $10.68.

Accolade (NASDAQ:ACCD) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Accolade had a negative net margin of 40.36% and a negative return on equity of 20.74%. As a group, equities analysts predict that Accolade, Inc. will post -1.2 earnings per share for the current year.

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 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.