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Stephen H. Barnes, the Chief Financial Officer of Accolade, Inc. (NASDAQ:ACCD), a healthcare technology company with a market capitalization of $574 million, recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. The company’s stock, currently trading at $7, has shown remarkable performance with a 104% gain year-to-date, according to InvestingPro data. On March 18, Barnes sold 142 shares of Accolade common stock at a price of $6.985 per share, totaling $991. This sale was conducted to cover tax withholding obligations related to the vesting and settlement of Performance Restricted Stock Units (PRSUs), as noted in the filing.
On March 17, Barnes also acquired 415 shares of common stock through the conversion of Restricted Stock Units (RSUs), which were acquired at no cost. Following these transactions, Barnes holds a total of 304,034 shares of Accolade common stock.
In other recent news, Accolade Inc . announced its acquisition by Transcarent, a private healthcare company, in a deal valued at $621 million. Shareholders of Accolade will receive $7.03 per share in this all-cash transaction, which represents a substantial 110% premium over the company’s stock price on January 7, 2025. The acquisition, expected to close in the second quarter of 2025, will lead to Accolade becoming a privately held company and its stock being delisted from Nasdaq. Following this announcement, Raymond (NSE:RYMD) James adjusted its rating on Accolade from Outperform to Market Perform, highlighting the transaction’s valuation and its implications on future earnings estimates.
In contrast, Truist Securities maintained a Buy rating on Accolade, reiterating a price target of $7.50. Truist analysts emphasized the synergistic potential of the merger, noting that the combined entity will serve over 1,400 clients and create valuable cross-selling opportunities. Meanwhile, Stifel analysts downgraded Accolade’s stock from Buy to Hold, aligning their price target with the offer price of $7.03. They cited the unlikelihood of a competing bid emerging as a reason for the downgrade. Accolade has withdrawn its previous financial guidance for the fiscal year due to the acquisition but plans to report its third-quarter financial results within the previously provided guidance range.
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