Rajeev Singh Sells 1,456 Shares of Accolade, Inc. (NASDAQ:ACCD) Stock

Posted by Oscar Bower on May 26th, 2023

Accolade, Inc. (NASDAQ:ACCD – Get Rating) CEO Rajeev Singh sold 1,456 shares of Accolade stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $11.82, for a total value of $17,209.92. Following the completion of the sale, the chief executive officer now owns 564,205 shares of the company’s stock, valued at $6,668,903.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rajeev Singh also recently made the following trade(s):

On Monday, May 22nd, Rajeev Singh sold 1,578 shares of Accolade stock. The shares were sold at an average price of $10.90, for a total value of $17,200.20.
On Wednesday, May 17th, Rajeev Singh sold 230 shares of Accolade stock. The shares were sold at an average price of $10.47, for a total value of $2,408.10.
On Tuesday, April 18th, Rajeev Singh sold 220 shares of Accolade stock. The shares were sold at an average price of $14.58, for a total value of $3,207.60.

Accolade Stock Performance

Shares of ACCD stock traded up $0.11 during trading hours on Friday, hitting $11.32. 37,787 shares of the company’s stock were exchanged, compared to its average volume of 682,787. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.60. Accolade, Inc. has a fifty-two week low of $5.24 and a fifty-two week high of $17.00. The firm has a 50 day moving average of $13.00 and a two-hundred day moving average of $10.96.

Accolade (NASDAQ:ACCD – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.01. Accolade had a negative return on equity of 31.98% and a negative net margin of 126.58%. The business had revenue of $99.03 million during the quarter, compared to analysts’ expectations of $99.44 million. During the same period in the prior year, the business posted ($0.59) EPS. The company’s revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts predict that Accolade, Inc. will post -1.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Accolade

Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in Accolade by 111.2% during the 1st quarter. Ameriprise Financial Inc. now owns 252,483 shares of the company’s stock worth $3,631,000 after acquiring an additional 132,925 shares in the last quarter. Titleist Asset Management LLC acquired a new stake in Accolade in the 1st quarter valued at about $1,409,000. JPMorgan Chase & Co. raised its position in Accolade by 4.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,893,057 shares of the company’s stock valued at $84,743,000 after purchasing an additional 259,910 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Accolade by 9.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 12,100 shares of the company’s stock valued at $174,000 after purchasing an additional 1,000 shares in the last quarter. Finally, State Street Corp raised its position in Accolade by 2.8% in the 1st quarter. State Street Corp now owns 1,504,944 shares of the company’s stock valued at $21,641,000 after purchasing an additional 40,580 shares in the last quarter. Institutional investors and hedge funds own 79.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ACCD shares. SpectralCast reiterated a “reiterates” rating on shares of Accolade in a research note on Friday, April 28th. Bank of America upgraded Accolade from a “neutral” rating to a “buy” rating and set a $16.50 target price on the stock in a research note on Wednesday. Wells Fargo & Company boosted their price target on Accolade from $10.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, April 21st. Jefferies Financial Group lowered Accolade from a “buy” rating to a “hold” rating and set a $14.00 price target on the stock. in a research note on Thursday, February 9th. Finally, 1-800-FLOWERS.COM reaffirmed a “reiterates” rating on shares of Accolade in a report on Friday, April 28th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.74.

About Accolade

(Get Rating)

Accolade, Inc, together with its subsidiaries, develops and provides 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 technology and multimodal support from a team of health assistants and clinicians, including nurses, physician medical directors, and behavioral health specialists.