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Stephen H. Barnes, the Chief Financial Officer of Accolade, Inc. (NASDAQ:ACCD), recently reported a sale of company shares worth $1,953. This transaction, dated January 13, involved the sale of 284 shares at a price of $6.879 per share. The stock, which has shown significant volatility according to InvestingPro data, has delivered an impressive 97% return over the past six months. The sale was conducted to cover tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs), as per the filing. Following this transaction, Barnes holds 221,983 shares of Accolade.
Additionally, on January 10, Barnes acquired 770 shares of common stock at no cost, following the conversion of RSUs. This acquisition increased his total direct ownership to 222,267 shares post-transaction.
In other recent news, Accolade Inc (NASDAQ:ACCD). has undergone several noteworthy developments. The company recently exceeded revenue expectations, reporting a total of $106.4 million and reaffirming its fiscal year 2025 revenue guidance between $460 million to $475 million. However, Wells Fargo (NYSE:WFC) has suggested potential revenue delays into FY26 due to extended contract negotiations. Accolade has also entered a significant merger with Transcarent, a move expected to enhance the company's market position by combining Accolade's health solutions with Transcarent's WayFinding solutions, serving over 1,400 employer and payer clients.
Stifel analysts revised their rating on Accolade's stock from Buy to Hold, adjusting the price target downward to $7.03 from the previous $8.00. This revision follows an evaluation of the company's strategic peer transitions and the assumption that a competing bid for the company is less likely to emerge. Other analysts have also adjusted their outlooks on Accolade. Truist Securities maintained a Buy rating on Accolade stock with a price target of $7.50. Stephens revised its price target for Accolade shares to $8.00, while Wells Fargo reduced its price target to $6.00. Canaccord Genuity also adjusted its price target to $7.00, maintaining a Buy rating on the stock.
In the wake of these recent developments, Accolade's stock rating was cut following the acquisition by Transcarent. The equity value of the transaction suggests approximately 88 million shares are involved, which is 8 million more than Accolade's last reported diluted share count, indicating that some future stock compensation and restricted stock units were likely liquidated as part of the deal. Analysts at Raymond (NS:RYMD) James raised the question of how much of the projected annual stock compensation, estimated at $50 million, will be capitalized and how much will continue as cash compensation after the acquisition is completed.
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