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Stephen H. Barnes, the Chief Financial Officer of Accolade, Inc. (NASDAQ:ACCD), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On March 11, Barnes sold 254 shares of Accolade’s common stock at an average price of $6.965 per share, totaling approximately $1,769. The transaction occurred as the stock has shown remarkable momentum, with InvestingPro data showing a 103% year-to-date return and current trading at $6.98, suggesting the stock is undervalued based on Fair Value analysis. This sale was conducted to cover tax withholding obligations associated with the vesting and settlement of Restricted Stock Units (RSUs), as noted in the filing.
Additionally, on March 10, Barnes acquired 770 shares of common stock through the conversion of RSUs, although this transaction did not involve a cash exchange. After these transactions, Barnes holds 303,761 shares of Accolade’s common stock directly.
In other recent news, Accolade Inc . announced its acquisition by Transcarent in a deal valued at $621 million, with shareholders receiving $7.03 per share. This transaction represents a substantial premium over Accolade’s previous closing stock price and is expected to finalize in the second quarter of 2025. Following the announcement, Raymond (NSE:RYMD) James downgraded Accolade’s stock rating from Outperform to Market Perform, citing the acquisition details. Meanwhile, Truist Securities maintained a Buy rating on Accolade, reiterating a price target of $7.50 and highlighting the synergistic potential of the merger.
The merger will combine Accolade’s healthcare solutions with Transcarent’s offerings, enhancing their market position with over 1,400 employer and payer clients. Stifel also revised its rating on Accolade, downgrading the stock from Buy to Hold, and adjusted the price target to $7.03, suggesting limited near-term movement in share price. The acquisition aims to integrate Accolade’s healthcare platform with Transcarent’s services, providing a more personalized member experience and potentially reducing healthcare costs. Accolade has withdrawn its previous financial guidance due to the acquisition and will not host its planned conference call. The company intends to report its third-quarter financial results within the previously provided guidance range.
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