Accolade president Robert Cavanaugh sells $1,735 in stock

Robert Cavanaugh, President of Accolade, Inc. (NASDAQ:ACCD), recently executed a stock transaction involving the sale of 252 shares. The shares were sold at an average price of $6.885 each, totaling approximately $1,735. According to InvestingPro data, the stock has shown remarkable momentum with a 76.6% gain over the past six months, though technical indicators suggest the stock is currently in overbought territory. This transaction, dated February 11, 2025, was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs), as noted in the filing. Following the sale, Cavanaugh holds 216,559 shares of Accolade common stock. The company, currently valued at $563 million, maintains a GOOD overall financial health score according to InvestingPro analysis.

In a related transaction dated February 10, 2025, Cavanaugh acquired 711 shares of Accolade common stock through the vesting of RSUs, which were converted on a one-to-one basis. These transactions highlight the ongoing management of equity compensation by the company’s executive. For deeper insights into ACCD’s valuation and 8 additional key ProTips, including detailed financial analysis and growth prospects, visit InvestingPro.

In other recent news, Accolade Inc . has been the focus of various analysts’ evaluations following its recent acquisition by Transcarent in a $621 million all-cash transaction. Stifel adjusted its rating on Accolade from Buy to Hold, aligning its price target with the offer price of $7.03 per share, indicating a less likely emergence of a competing bid for the company. Meanwhile, Raymond (NSE:RYMD) James revised its rating from Outperform to Market Perform, noting the acquisition’s substantial 110% premium over Accolade’s previous stock price.

In contrast, Truist Securities maintained a Buy rating on Accolade, reiterating a price target of $7.50. The firm emphasized the synergistic potential of the merger with Transcarent, which is expected to serve over 1,400 employer and payer clients and create valuable cross-selling opportunities.

These developments are part of a series of recent events involving Accolade, which include the company’s strategic merger with Transcarent. The combined entity is anticipated to deliver a more personalized and engaging member experience, leading to higher utilization and reduced healthcare costs. As a result of the acquisition, Accolade will become a privately held company, with its common stock delisted from Nasdaq.

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