Point72 Asset Management L.P. Has $2.89 Million Position in Accolade, Inc. (NASDAQ:ACCD)

Point72 Asset Management L.P. boosted its position in Accolade, Inc. (NASDAQ:ACCD) by 36.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 844,999 shares of the company’s stock after purchasing an additional 227,420 shares during the period. Point72 Asset Management L.P.’s holdings in Accolade were worth $2,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. D. E. Shaw & Co. Inc. grew its position in shares of Accolade by 77.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,280,783 shares of the company’s stock valued at $7,800,000 after buying an additional 998,423 shares during the last quarter. Fairman Group LLC grew its position in shares of Accolade by 58.5% in the 4th quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock valued at $6,164,000 after buying an additional 665,112 shares during the last quarter. Whetstone Capital Advisors LLC grew its position in shares of Accolade by 58.9% in the 4th quarter. Whetstone Capital Advisors LLC now owns 1,585,643 shares of the company’s stock valued at $5,423,000 after buying an additional 587,754 shares during the last quarter. Marshall Wace LLP grew its position in shares of Accolade by 2,233.6% in the 4th quarter. Marshall Wace LLP now owns 531,885 shares of the company’s stock valued at $1,819,000 after buying an additional 509,093 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its position in shares of Accolade by 40.9% in the 4th quarter. Kennedy Capital Management LLC now owns 1,065,757 shares of the company’s stock valued at $3,645,000 after buying an additional 309,201 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

Accolade Price Performance

Shares of Accolade stock opened at $7.02 on Wednesday. Accolade, Inc. has a one year low of $3.08 and a one year high of $7.75. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63. The stock’s 50-day moving average is $7.01 and its 200 day moving average is $5.84. The firm has a market cap of $575.59 million, a price-to-earnings ratio of -3.12 and a beta of 2.10.

Analysts Set New Price Targets

A number of equities research analysts have commented on ACCD shares. Piper Sandler lowered Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Stephens reiterated an “equal weight” rating and issued a $7.03 price target on shares of Accolade in a research report on Wednesday, February 12th. 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, Accolade has a consensus rating of “Hold” and a consensus target price of $6.51.

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.