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Rajeev Singh, the Chief Executive Officer of Accolade, Inc. (NASDAQ:ACCD), recently reported a sale of company shares valued at $8,103. The transaction took place on February 4, 2025, where Singh sold 1,170 shares at an average price of $6.926 per share. According to InvestingPro data, ACCD has shown remarkable momentum with a 90% price return over the past six months, though current technical indicators suggest the stock is in overbought territory.
The sale was executed to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs), as noted in the filing. This transaction was a mandatory sell-to-cover action, indicating it was not a discretionary sale by Singh. The company maintains a healthy financial position with a current ratio of 2.63, indicating strong liquidity to meet short-term obligations.
Prior to this, on February 3, Singh acquired 3,786 shares of common stock through the conversion of RSUs, with no monetary exchange involved in this acquisition. Following these transactions, Singh directly owns 822,827 shares of Accolade. Additionally, Singh has indirect ownership of 651,619 shares through Avanti Holdings, LLC, where he holds voting and investment power. Based on InvestingPro analysis, Accolade appears undervalued at current levels, with 8 additional ProTips available to subscribers, including detailed insights on profitability prospects and debt levels.
In other recent news, Accolade Inc . has been in the spotlight following significant developments. The company has been acquired by Transcarent in an all-cash transaction valued at $621 million, with shareholders set to receive $7.03 per share. This development has led to various reactions from analysts. For instance, Stifel downgraded Accolade’s stock from Buy to Hold, adjusting the price target to $7.03, aligning with the offer price. The downgrade was based on the evaluation of the company’s strategic peer transitions and the assumption that a competing bid for the company is less likely to emerge.
On the other hand, Raymond (NSE:RYMD) James adjusted its rating on Accolade from Outperform to Market Perform following the acquisition announcement. The analysts highlighted that the deal represents a 1.1 times revenue multiple based on their fiscal year 2026 estimates. The equity value of the transaction suggests approximately 88 million shares are involved, indicating some future stock compensation and restricted stock units were likely liquidated as part of the deal.
Meanwhile, Truist Securities maintained a Buy rating on Accolade, reiterating a price target of $7.50. They emphasized the synergistic potential of the merger, noting that the combined entity will now serve over 1,400 employer and payer clients. The breadth of offerings, including Accolade’s Advocacy, Expert Medical (TASE:PMCN) Opinion, and Primary Care services, is expected to create valuable cross-selling opportunities. These are the recent developments regarding Accolade Inc.
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