AQR Capital Management LLC Purchases 18,885 Shares of Accolade, Inc. (NASDAQ:ACCD)

AQR Capital Management LLC lifted its position in shares of Accolade, Inc. (NASDAQ:ACCD) by 33.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,330 shares of the company’s stock after acquiring an additional 18,885 shares during the period. AQR Capital Management LLC owned approximately 0.09% of Accolade worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ACCD. Acadian Asset Management LLC bought a new stake in Accolade in the 2nd quarter worth approximately $1,229,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Accolade by 18.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,011,931 shares of the company’s stock worth $7,203,000 after purchasing an additional 314,371 shares during the period. Bellevue Group AG grew its position in Accolade by 6.6% in the 1st quarter. Bellevue Group AG now owns 4,804,514 shares of the company’s stock worth $50,351,000 after purchasing an additional 297,110 shares during the period. Squarepoint Ops LLC bought a new stake in Accolade in the 2nd quarter worth approximately $1,041,000. Finally, Cubist Systematic Strategies LLC grew its position in Accolade by 273.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 260,040 shares of the company’s stock worth $931,000 after purchasing an additional 190,396 shares during the period. Institutional investors own 84.99% of the company’s stock.

Accolade Stock Down 4.5 %

ACCD opened at $3.58 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.80 and a current ratio of 2.72. Accolade, Inc. has a fifty-two week low of $3.35 and a fifty-two week high of $15.36. The firm’s fifty day moving average is $4.02 and its 200 day moving average is $5.55. The stock has a market cap of $286.43 million, a price-to-earnings ratio of -3.09 and a beta of 1.99.

Accolade (NASDAQ:ACCD) last released its earnings results on Tuesday, October 8th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.14. Accolade had a negative net margin of 18.16% and a negative return on equity of 18.43%. The company had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the previous year, the company earned ($0.43) EPS. Accolade’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that Accolade, Inc. will post -1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACCD has been the subject of a number of research analyst reports. Barclays cut their target price on shares of Accolade from $5.50 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Accolade in a research note on Monday, October 7th. Morgan Stanley dropped their price target on shares of Accolade from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Stifel Nicolaus dropped their price target on shares of Accolade from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Guggenheim dropped their price target on shares of Accolade from $13.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.04.

Accolade Company 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.