Accolade EVP Richard Eskew sells $2,623 in company stock

Accolade, Inc. (NASDAQ:ACCD) Executive Vice President and General Counsel Richard Eskew recently sold shares of the company’s stock, according to a filing with the Securities and Exchange Commission. On March 4, Eskew sold 377 shares at a price of $6.96 per share, totaling approximately $2,623. This transaction was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). The sale comes as Accolade’s stock has shown remarkable strength, with a 103% gain year-to-date and 65% surge over the past six months, according to InvestingPro data.

In addition to the sale, Eskew also acquired shares through the conversion of RSUs into common stock. On March 3, he converted a total of 1,145 RSUs into common stock, although these transactions were conducted at no cost. Following these transactions, Eskew holds 64,784 shares of Accolade’s common stock directly. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with additional insights available in the comprehensive Pro Research Report.

These transactions are part of Eskew’s ongoing management of his equity holdings in the company, reflecting routine procedures for handling tax obligations associated with stock compensation. For deeper insights into Accolade’s financial health and valuation metrics, investors can access detailed analysis through InvestingPro, which offers exclusive ProTips and comprehensive financial data.

In other recent news, Accolade Inc . announced its acquisition by Transcarent in a transaction valued at $621 million. Accolade shareholders are set to receive $7.03 per share in cash, a 110% premium over the company’s closing stock price on January 7, 2025. The acquisition is expected to close in the second quarter of 2025, after which Accolade will become a privately held company. Following this announcement, Stifel downgraded Accolade’s stock from Buy to Hold, setting a new price target of $7.03, citing a lower likelihood of competing bids. Meanwhile, Raymond (NSE:RYMD) James adjusted its rating from Outperform to Market Perform, noting the acquisition’s valuation at 1.1 times revenue and 16.5 times EBITDA based on fiscal year 2026 estimates. Truist Securities maintained a Buy rating and reiterated a price target of $7.50, highlighting the merger’s potential to enhance Accolade’s market position through expanded client services. The merger is poised to combine Accolade’s healthcare platform with Transcarent’s AI-driven solutions, aiming to streamline healthcare access and reduce costs. Accolade has withdrawn its previous financial guidance but plans to file its Form 10-Q for the third quarter by January 10, 2025.

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