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Stephen H. Barnes, Chief Financial Officer of Accolade, Inc. (NASDAQ:ACCD), recently reported the sale of company shares. According to a filing with the Securities and Exchange Commission, Barnes sold 221 shares of Accolade’s common stock on February 11 at a price of $6.885 per share. The total value of the transaction amounted to $1,521. The stock, currently trading near $6.90, has shown remarkable strength with a 100% gain year-to-date, according to InvestingPro data.
The sale was conducted to cover tax withholding obligations linked 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 did not reflect a discretionary sale by Barnes. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 2.63, though it currently trades above its Fair Value.
On February 10, Barnes also acquired 770 shares of Accolade’s common stock through the conversion of RSUs, as detailed in the filing. Following these transactions, Barnes holds 301,913 shares of Accolade stock. For deeper insights into ACCD’s valuation and 8 additional key ProTips, visit InvestingPro.
In other recent news, Accolade Inc . has been the subject of significant attention following its acquisition by Transcarent, a private healthcare company, in a deal valued at $621 million. The merger is expected to close in the second quarter of 2025. This development has prompted several investment firms to reassess their stance on Accolade’s stock. Stifel analysts downgraded Accolade shares from Buy to Hold, adjusting the price target to $7.03, suggesting a less likely emergence of a competing bid for the company. Raymond (NSE:RYMD) James also revised its rating from Outperform to Market Perform in light of the acquisition.
Conversely, Truist Securities maintained a Buy rating on Accolade stock, reiterating a price target of $7.50, underlining the synergistic potential of the merger. The acquisition is seen as a significant move, combining Accolade’s range of health solutions with Transcarent’s WayFinding solutions and care experiences. The deal is expected to create valuable cross-selling opportunities and enhance the company’s market position. These are recent developments that investors should consider in their evaluation of Accolade’s standing in the market.
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