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Stephen H. Barnes, the Chief Financial Officer of Accolade, Inc. (NASDAQ:ACCD), recently reported a sale of company stock valued at $3,102. According to the SEC filing, Barnes sold 448 shares on February 4 at an average price of $6.926 per share. The transaction comes as Accolade’s stock has shown remarkable momentum, with InvestingPro data showing a nearly 90% price return over the past six months. This transaction was conducted to cover tax obligations related to the vesting of restricted stock units (RSUs). Following this sale, Barnes holds 301,364 shares of Accolade common stock.
Earlier, on February 3, Barnes acquired 1,568 shares through the conversion of RSUs into common stock, at no cost. This transaction increased his total holdings to 301,812 shares before the subsequent sale.
In other recent news, Accolade Inc . has been a major focus for analysts following its acquisition by Transcarent, a private healthcare company, in a deal valued at $621 million. Analysts at Stifel have revised their rating on Accolade from Buy to Hold, adjusting the price target to $7.03, citing strategic peer transitions and a less likely emergence of a competing bid for the company. Meanwhile, Raymond (NSE:RYMD) James has adjusted its rating from Outperform to Market Perform, following the acquisition announcement.
The transaction with Transcarent is expected to be finalized in the second quarter of 2025. This development has led to a shift in expectations, aligning with the latest available information regarding Accolade’s prospects.
Despite these downgrades, Truist Securities maintains a positive outlook on Accolade, reiterating a Buy rating and a price target of $7.50. The firm emphasizes the synergistic potential of the merger, which combines Accolade’s range of health solutions with Transcarent’s WayFinding solutions and care experiences.
These recent developments reflect the dynamic nature of Accolade’s position in the market and the varying perspectives of different investment firms. As always, investors are advised to keep a close eye on these and other emerging details to inform their investment decisions.
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