ARK Investment Management LLC recently announced the acquisition of new stake in Accolade Inc (NASDAQ:ACCD). The institutional investor has increased its shareholding in the Healthcare company by 6.31% to 6.04 million shares with purchase of 0.36 million shares. This fresh investment now brings its stake to 7.93% valued currently at $52.75 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.15 million to 5.1 million shares. And BlackRock Fund Advisors has lifted its position by 2.29% or 0.1 million shares – to 4.6 million shares.
With over 4.45 million Accolade Inc (ACCD) shares trading Tuesday and a closing price of $14.99 on the day, the dollar volume was approximately $66.68 million. The shares have shown a positive half year performance of 10.95% and its price on 01/09/24 gained nearly 29.00%. Currently, there are 73.09M common shares owned by the public and among those 68.53M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 210 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 129 of these insider trades were purchases, accounting for 765,823 shares. Insider sales of the common stock occurred on 81 occasions, with total insider shares sold totaling 47,200 shares.
The top 3 mutual fund holders in Accolade Inc are ARK Genomic Revolution ETF, JPMorgan Small Cap Growth Fund, and JPMorgan Funds – Global Healthcar. ARK Genomic Revolution ETF owns 6.3 million shares of the company’s stock, all valued at over $54.98 million. The company bought an additional 4100.0 shares recently to bring their total holdings to about 8.26% of the shares outstanding. JPMorgan Small Cap Growth Fund bought 11898.0 shares to see its total holdings expand to 2.38 million shares valued at over $20.81 million and representing 3.13% of the shares outstanding. JPMorgan Funds – Global Healthcar sold 14115.0 shares to bring its total holdings to over 2.21 million shares at a value of $19.25 million. JPMorgan Funds – Global Healthcar now owns shares totaling to 2.89% of the shares outstanding.
Shares of Accolade Inc (NASDAQ: ACCD) opened at $13.00, up $1.38 from a prior closing price of $11.62. However, the script later moved the day high at 15.03, up 29.00%. The company’s stock has a 5-day price change of 23.78% and 82.36% over the past three months. ACCD shares are trading 24.81% year to date (YTD), with the 12-month market performance up to 101.75% higher. It has a 12-month low price of $6.33 and touched a high of $17.00 over the same period. ACCD has an average intraday trading volume of 630.71K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 34.64%, 64.62%, and 29.05% respectively.
Institutional ownership of Accolade Inc (NASDAQ: ACCD) shares accounts for 75.51% of the company’s 73.09M shares outstanding. Mutual fund holders own 31.54%, while other institutional holders and individual stakeholders account for 44.00% and 12.17% respectively.
It has a market capitalization of $1.14B and a beta (3y monthly) value of 2.15. The earnings-per-share (ttm) stands at -$1.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.98% over the week and 6.39% over the month.
Analysts forecast that Accolade Inc (ACCD) will achieve an EPS of -$0.13 for the current quarter, -$0.44 for the next quarter and -$1.31 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.42 a year ago. Earnings per share for the fiscal year are expected to increase by 78.27%, and 8.87% over the next financial year. EPS should grow at an annualized rate of -0.90% over the next five years, compared to -38.43% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Accolade Inc (ACCD) as a “Strong Buy” at a consensus score of 1.69. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 5 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ACCD, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on January 03, 2024, with the firm’s price target at $13.
