Whetstone Capital Advisors LLC Increases Stock Position in Accolade, Inc. (NASDAQ:ACCD)

Whetstone Capital Advisors LLC grew its holdings in shares of Accolade, Inc. (NASDAQ:ACCD) by 58.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,585,643 shares of the company’s stock after buying an additional 587,754 shares during the period. Accolade makes up 1.7% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 20th largest position. Whetstone Capital Advisors LLC’s holdings in Accolade were worth $5,423,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ACCD. Pallas Capital Advisors LLC bought a new stake in Accolade during the fourth quarter worth about $38,000. Wolverine Trading LLC bought a new stake in shares of Accolade in the 3rd quarter worth approximately $51,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Accolade in the 4th quarter worth approximately $54,000. RPO LLC purchased a new stake in shares of Accolade in the 4th quarter worth approximately $57,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Accolade by 49.9% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 17,804 shares of the company’s stock valued at $61,000 after buying an additional 5,929 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors.

Accolade Price Performance

Shares of Accolade stock opened at $7.02 on Friday. Accolade, Inc. has a twelve month low of $3.08 and a twelve month high of $9.67. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $6.96 and its 200 day moving average is $5.18. The company has a market cap of $575.59 million, a price-to-earnings ratio of -3.12 and a beta of 2.10.

Accolade (NASDAQ:ACCD) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.01. Accolade had a negative return on equity of 20.74% and a negative net margin of 40.36%. Research analysts anticipate that Accolade, Inc. will post -1.2 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.