Nikko Asset Management Americas Inc. Sells 120,531 Shares of Accolade, Inc. (NASDAQ:ACCD)

Nikko Asset Management Americas Inc. trimmed its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,766,480 shares of the company’s stock after selling 120,531 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Accolade were worth $6,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mission Creek Capital Partners Inc. purchased a new position in Accolade during the third quarter valued at $38,000. Pallas Capital Advisors LLC purchased a new position in shares of Accolade during the 4th quarter worth about $38,000. Wolverine Trading LLC purchased a new position in shares of Accolade during the 3rd quarter worth about $51,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Accolade by 1,144.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 20,913 shares of the company’s stock worth $81,000 after purchasing an additional 19,232 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Accolade during the 3rd quarter valued at about $96,000. 84.99% of the stock is currently owned by institutional investors.

Accolade Stock Performance

Shares of ACCD opened at $6.98 on Monday. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.67. The firm has a market cap of $572.31 million, a PE ratio of -3.10 and a beta of 2.18. The company’s 50 day simple moving average is $6.77 and its 200-day simple moving average is $4.77. Accolade, Inc. has a 12-month low of $3.08 and a 12-month high of $10.68.

Accolade (NASDAQ:ACCD) last announced its earnings results on Friday, January 10th. The company reported ($0.30) earnings per share (EPS) 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 EPS for the current year.

Analyst Upgrades and Downgrades

ACCD has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Accolade in a report on Wednesday, January 8th. Morgan Stanley cut their price objective on shares of Accolade from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Leerink Partners reissued a “market perform” rating on shares of Accolade in a research report on Wednesday, January 8th. Leerink Partnrs downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Piper Sandler downgraded shares of Accolade from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Thirteen investment 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 company 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.