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Accolade, Inc. (NASDAQ:ACCD), a $563 million market cap company whose stock has surged over 100% year-to-date, saw its President Robert N. Cavanaugh recently sell 180 shares of the company’s common stock, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold on February 19 at a price of $6.901 each, totaling approximately $1,242. According to InvestingPro analysis, the stock appears slightly undervalued at current levels. This sale was conducted to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units (RSUs).
In addition to the sale, Cavanaugh acquired 510 shares of Accolade common stock on February 18 through the conversion of RSUs. These RSUs converted into common stock at no cost, as each unit represents the right to receive one share of common stock.
Following these transactions, Cavanaugh holds 216,889 shares of Accolade common stock. For deeper insights into insider trading patterns and comprehensive financial analysis, including 8 additional key ProTips, check out the full company report on InvestingPro.
In other recent news, Accolade Inc . announced its acquisition by Transcarent for $621 million in an all-cash transaction, where shareholders will receive $7.03 per share. This acquisition, unanimously approved by both companies’ Boards of Directors, is expected to finalize in the second quarter of 2025. Following the announcement, Raymond (NSE:RYMD) James downgraded Accolade’s stock from Outperform to Market Perform, noting the transaction aligns with their fiscal year 2026 estimates. Meanwhile, Truist Securities maintained a Buy rating on Accolade, with a price target of $7.50, highlighting the synergistic potential of the merger with Transcarent. Stifel also adjusted its rating on Accolade from Buy to Hold, setting a price target of $7.03, reflecting a more cautious stance on the company’s future performance. The merger aims to enhance Transcarent’s offerings by integrating Accolade’s healthcare platform, which is anticipated to reduce healthcare costs and improve member experiences. Accolade will become privately held post-acquisition, and its stock will be delisted from Nasdaq. As part of the acquisition process, Accolade has withdrawn its previous financial guidance for the fiscal year.
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