Acclaimed CEO Rajeev Singh sells shares worth $6,446

Plymouth Meeting, PA – Accolade, Inc. (NASDAQ:ACCD) CEO Rajeev Singh recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. The healthcare technology company, currently valued at $574 million, has seen its stock surge nearly 90% over the past six months, with InvestingPro data showing the stock is trading below its Fair Value. On April 2, Singh sold 922 shares of the company’s common stock, totaling approximately $6,446, at a price of $6.992 per share. This sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs).

In a separate transaction, Singh acquired 3,786 shares of common stock on April 1 through the conversion of RSUs, which were granted last year. These RSUs converted on a one-to-one basis into shares of Accolade’s common stock.

Following these transactions, Singh holds a direct ownership of 832,877 shares. Additionally, he has indirect ownership of 651,619 shares through Avanti Holdings, LLC, where he exercises voting and investment power.

In other recent news, Accolade Inc . shareholders have approved a merger with Transcarent, a healthcare company, in a deal valued at approximately $621 million. This acquisition, expected to be finalized in the second quarter of 2025, will result in Accolade becoming a privately held entity, with its stock being delisted from public markets. The merger is anticipated to enhance the combined company’s healthcare offerings, with Transcarent integrating Accolade’s personalized healthcare platform into its services.

Meanwhile, analysts have responded to the merger with varied perspectives. Stifel downgraded Accolade’s stock from Buy to Hold, adjusting the price target to $7.03, aligning with the acquisition offer price, suggesting limited expectation for competing bids. In contrast, Truist Securities maintained a Buy rating with a $7.50 target, citing potential synergies from the merger that could enhance market position and service offerings.

Raymond (NSE:RYMD) James also adjusted its rating on Accolade, moving from Outperform to Market Perform, reflecting the acquisition’s valuation at a 1.1 times revenue multiple. The merger is seen as a strategic move to streamline digital health solutions and expand client relationships. As part of the acquisition process, Accolade has withdrawn its previous financial guidance and will not host its scheduled conference call, though it plans to report its financial results as initially guided.

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