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Robert N. Cavanaugh, President of Accolade, Inc. (NASDAQ:ACCD), recently reported a sale of company stock valued at approximately $1,761. According to the SEC filing, Cavanaugh sold 256 shares of common stock at a price of $6.879 per share on January 13, 2025. The transaction occurs as InvestingPro data shows the stock has delivered an impressive 104% return over the past week, with current trading near $6.84. This transaction was conducted to cover tax withholding obligations related to the vesting of restricted stock units (RSUs), rather than as a discretionary sale.
In addition to the sale, Cavanaugh acquired 710 shares of common stock on January 10, 2025, through the conversion of RSUs. These transactions resulted in Cavanaugh holding a total of 214,765 shares of Accolade following the stock sale.
In other recent news, Accolade Inc (NASDAQ:ACCD). has experienced significant developments, including a major merger with Transcarent and a robust financial performance. The merger, valued at approximately $621 million, is expected to enhance Accolade's market position by combining its health solutions with Transcarent's WayFinding solutions, serving over 1,400 employer and payer clients. Accolade's recent financial performance surpassed revenue expectations with a total of $106.4 million, and the company reaffirmed its fiscal year 2025 revenue guidance between $460 million to $475 million. However, Wells Fargo (NYSE:WFC) suggested potential revenue delays into FY26 due to extended contract negotiations.
Stifel analysts revised their rating on Accolade Inc. stock from Buy to Hold, adjusting the price target downward to $7.03, reflecting the assumption that a competing bid for the company is less likely to emerge. Other firms such as Truist Securities, Stephens, and Canaccord Genuity have also adjusted their outlooks on Accolade, maintaining a Buy rating with varying price targets.
These developments reflect recent trends in Accolade's financial performance and strategic direction. The merger with Transcarent and the company's strong financial performance indicate a promising trajectory, while analyst adjustments provide insights into market expectations.
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