Tocqueville Asset Management L.P. Acquires 290,000 Shares of Accolade, Inc. (NASDAQ:ACCD)

Tocqueville Asset Management L.P. boosted its holdings in shares of Accolade, Inc. (NASDAQ:ACCD) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 580,000 shares of the company’s stock after buying an additional 290,000 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Accolade were worth $1,984,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Whetstone Capital Advisors LLC acquired a new stake in shares of Accolade in the third quarter worth $3,842,000. Clearline Capital LP lifted its position in Accolade by 85.3% during the 3rd quarter. Clearline Capital LP now owns 1,539,578 shares of the company’s stock worth $5,927,000 after acquiring an additional 708,794 shares during the last quarter. Fairman Group LLC boosted its holdings in Accolade by 58.5% during the fourth quarter. Fairman Group LLC now owns 1,802,399 shares of the company’s stock valued at $6,164,000 after acquiring an additional 665,112 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Accolade in the third quarter valued at about $2,378,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Accolade by 84.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 634,470 shares of the company’s stock worth $2,170,000 after purchasing an additional 289,747 shares during the period. 84.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACCD has been the topic of a number of research analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.03 target price (down previously from $8.00) on shares of Accolade in a report on Thursday, January 9th. Truist Financial downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Piper Sandler cut shares of Accolade from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. William Blair lowered shares of Accolade from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Leerink Partners restated a “market perform” rating on shares of Accolade in a report on Wednesday, January 8th. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.51.

Accolade Price Performance

Shares of ACCD stock opened at $6.99 on Thursday. The stock’s fifty day simple moving average is $6.92 and its 200 day simple moving average is $4.82. Accolade, Inc. has a one year low of $3.08 and a one year high of $10.68. The firm has a market cap of $573.13 million, a price-to-earnings ratio of -3.11 and a beta of 2.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.63 and a quick ratio of 2.63.

Accolade (NASDAQ:ACCD) last issued 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 net margin of 40.36% and a negative return on equity of 20.74%. On average, analysts expect that Accolade, Inc. will post -1.2 earnings per share for the current fiscal year.

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.