Microvast Holdings announces departure of chief financial officer
Rajeev Singh, the Chief Executive Officer of Accolade, Inc. (NASDAQ:ACCD), recently reported a stock transaction involving the sale of company shares. According to a filing with the Securities and Exchange Commission, Singh sold 509 shares of Accolade common stock on February 11, 2025, at a price of $6.885 per share, totaling approximately $3,504. The transaction comes as the stock shows strong momentum, with InvestingPro data indicating a remarkable 77% price return over the past six months.
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 part of a "mandatory sell to cover" arrangement and was not a discretionary sale by Singh. Following this transaction, Singh holds 823,968 shares directly. Additionally, through Avanti Holdings, LLC, Singh holds an indirect ownership of 651,619 shares. This level of insider ownership comes as Accolade maintains a healthy balance sheet with a current ratio of 2.63, indicating strong liquidity.
This move comes in the context of Singh’s ongoing role as both CEO and a director of Accolade, a company specializing in business services. The company has demonstrated solid revenue growth of 15% over the last twelve months, reaching $447 million, though it currently operates at a loss with an EBITDA of -$48 million.
In other recent news, Accolade Inc . has undergone significant changes in its stock rating following its acquisition by Transcarent in a deal valued at $621 million. Stifel analysts revised their rating from Buy to Hold, adjusting the target price downward to $7.03. This revision reflects the analysts’ view that a competing bid for the company is less likely to emerge.
In contrast, Raymond (NSE:RYMD) James adjusted its rating from Outperform to Market Perform after the acquisition announcement. The deal, which involves a 110% premium over Accolade’s closing stock price, is expected to be finalized in the second quarter of 2025.
Truist Securities maintained a Buy rating on Accolade’s stock and reiterated a price target of $7.50. The analysts emphasized the synergistic potential of the merger with Transcarent, noting that the combined entity will now serve over 1,400 employer and payer clients.
These are the recent developments surrounding Accolade Inc. following its acquisition by Transcarent. As always, investors and market watchers are advised to monitor the company’s performance and any potential developments that could influence its valuation and the analysts’ recommendations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.