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Rajeev Singh, the Chief Executive Officer of Accolade, Inc. (NASDAQ:ACCD), recently sold shares of the company amid the stock’s impressive 101% year-to-date rally. According to a recent SEC filing, Singh sold 279 shares of Accolade common stock on February 19, 2025, at an average price of $6.901 per share, totaling approximately $1,925. InvestingPro analysis indicates the stock is currently undervalued, with 8 key insights available to subscribers. This transaction was conducted to cover tax withholding obligations related to the vesting of restricted stock units (RSUs).
In addition to the sale, Singh acquired 933 shares on February 18, 2025, as part of an RSU conversion, where each RSU was exchanged for one share of common stock. After these transactions, Singh holds 824,622 shares directly. Furthermore, Singh has indirect ownership of 651,619 shares through Avanti Holdings, LLC, where he is a partner with voting and investment power.
In other recent news, Accolade Inc . announced its acquisition by Transcarent, valued at $621 million in an all-cash transaction. Accolade shareholders will receive $7.03 per share, representing a 110% premium over the company’s recent stock price. The acquisition is expected to close in the second quarter of 2025, with Accolade becoming a privately held company. Following the announcement, Raymond (NSE:RYMD) James downgraded Accolade’s stock rating from Outperform to Market Perform, citing the acquisition details and financial metrics such as a 1.1 times revenue multiple and a 16.5 times EBITDA multiple.
Meanwhile, Truist Securities maintained a Buy rating on Accolade, reiterating a price target of $7.50. Truist analysts highlighted the merger’s potential to enhance Accolade’s market position by combining its services with Transcarent’s offerings. Stifel also revised its rating on Accolade, downgrading it from Buy to Hold due to a lack of competing bids for the company. The price target was adjusted to $7.03, aligning with the acquisition offer.
The merger aims to integrate Transcarent’s AI-powered solutions with Accolade’s healthcare platform, potentially reducing healthcare costs and improving member experiences. Accolade has withdrawn its previous financial guidance for the fiscal year but plans to report financial results within the previously provided range. The company’s Board of Directors has recommended that stockholders approve the merger agreement.
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