SoFi CEO enters prepaid forward contract on 1.5 million shares
Robert N. Cavanaugh, President of Accolade, Inc. (NASDAQ:ACCD), recently reported a stock transaction involving the sale of company shares. According to the SEC filing, Cavanaugh sold 181 shares of Accolade common stock on March 18, 2025, at an average price of $6.985 per share, totaling approximately $1,264. The stock, currently trading at $7, has shown remarkable strength with a 104% gain year-to-date. InvestingPro analysis suggests the stock is currently undervalued based on its Fair Value model.
The transaction was executed to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). This sale was a mandatory sell-to-cover transaction and not a discretionary decision by Cavanaugh.
In addition to the sale, Cavanaugh also acquired 510 shares of common stock on March 17, 2025, through the conversion of RSUs. This acquisition was part of a previously established compensation arrangement, with each RSU converting into one share of common stock. Following these transactions, Cavanaugh holds a total of 218,697 shares in the company.
In other recent news, Accolade Inc . has announced its acquisition by Transcarent in a deal valued at $621 million, with shareholders set to receive $7.03 per share in an all-cash transaction. This acquisition, expected to finalize in the second quarter of 2025, represents a substantial premium over Accolade’s previous stock price. Following this announcement, Raymond (NSE:RYMD) James downgraded Accolade’s rating from Outperform to Market Perform, noting the valuation aligns with fiscal year 2026 revenue and EBITDA estimates. Meanwhile, Truist Securities maintained a Buy rating with a $7.50 price target, highlighting the potential synergies from the merger with Transcarent, particularly in expanding client services. Stifel also downgraded Accolade from Buy to Hold, adjusting the price target to $7.03, reflecting a cautious stance on future stock movement. The merger aims to integrate Accolade’s healthcare platform with Transcarent’s solutions, enhancing service offerings for over 1,400 clients. Both companies’ boards have approved the merger, which will result in Accolade becoming a privately held company. Accolade has withdrawn its financial guidance for the fiscal year but plans to report its third-quarter financial results within the previously provided range.
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