Sumitomo Mitsui Trust Holdings Inc. Buys 3,501 Shares of Accolade, Inc. (NASDAQ:ACCD)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Accolade, Inc. (NASDAQ:ACCD) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,802,494 shares of the company’s stock after purchasing an additional 3,501 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 2.33% of Accolade worth $21,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of Accolade by 1.4% during the 3rd quarter. Nordea Investment Management AB now owns 106,764 shares of the company’s stock worth $1,148,000 after acquiring an additional 1,423 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Accolade during the 3rd quarter worth approximately $2,354,000. Vanguard Group Inc. increased its holdings in shares of Accolade by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,283,858 shares of the company’s stock worth $55,903,000 after acquiring an additional 157,464 shares during the last quarter. Olympiad Research LP acquired a new position in shares of Accolade during the 3rd quarter worth approximately $171,000. Finally, ARK Investment Management LLC increased its holdings in shares of Accolade by 6.3% during the 3rd quarter. ARK Investment Management LLC now owns 6,042,523 shares of the company’s stock worth $63,930,000 after acquiring an additional 358,617 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

Accolade Price Performance

Shares of ACCD stock opened at $9.21 on Tuesday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.48. Accolade, Inc. has a twelve month low of $6.33 and a twelve month high of $17.00. The company has a market cap of $712.95 million, a P/E ratio of -5.58 and a beta of 2.08. The business has a fifty day simple moving average of $9.97 and a 200 day simple moving average of $9.92.

Analyst Ratings Changes

A number of research analysts have commented on ACCD shares. Barclays started coverage on Accolade in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $13.00 price objective on the stock. Truist Financial upped their price objective on Accolade from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. SVB Leerink started coverage on Accolade in a report on Monday, February 26th. They issued an “outperform” rating and a $16.00 price objective on the stock. Stifel Nicolaus decreased their price objective on Accolade from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wells Fargo & Company upped their price objective on Accolade from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.53.

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 technology and multimodal support from a team of health assistants and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists, women's health specialists, case management specialists, expert medical opinion providers, and virtual primary care physicians.