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In a recent filing with the Securities and Exchange Commission, Accolade, Inc. (NASDAQ:ACCD), a $573 million market cap company whose stock has surged nearly 90% over the past six months, reported that its President, Robert N. Cavanaugh, sold shares of the company’s common stock valued at approximately $3,845. The sale involved 550 shares at an average price of $6.992 per share, executed on April 2, 2025. According to InvestingPro data, the stock has shown significant volatility, trading between $3.08 and $9.67 over the past 52 weeks.
Additionally, on April 1, 2025, Cavanaugh acquired 1,568 shares through the conversion of restricted stock units (RSUs) into common stock. This transaction did not involve any cash exchange, as each RSU automatically converted into one share of common stock. The company maintains a strong financial position, with InvestingPro analysis showing a healthy current ratio of 2.63, indicating solid liquidity.
The sale of shares was conducted to cover tax withholding obligations associated with the vesting and settlement of RSUs, as indicated in the filing. This transaction was described as a "mandatory sell to cover" and was not a discretionary action by Cavanaugh. Following these transactions, Cavanaugh now holds 222,216 shares of Accolade’s common stock. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers over 1,400 US stocks.
In other recent news, Accolade Inc . announced that its shareholders have approved a merger with Transcarent, a healthcare company, in a deal valued at $621 million. The transaction, which is expected to close in the second quarter of 2025, will result in Accolade becoming a privately held entity, with its stock delisted from public markets. This merger aims to integrate Accolade’s healthcare platform with Transcarent’s services, promising enhanced healthcare experiences and potential cost savings. Following the merger announcement, Raymond (NSE:RYMD) James downgraded Accolade’s stock rating from Outperform to Market Perform, noting that the acquisition price represents a 1.1 times revenue multiple based on fiscal year 2026 estimates.
Stifel also downgraded Accolade from Buy to Hold, citing the unlikelihood of competing bids and aligning their price target with the offer price of $7.03 per share. Meanwhile, Truist Securities maintained a Buy rating on Accolade, emphasizing the synergistic potential of the merger and reiterating a price target of $7.50. The merger is expected to create valuable cross-selling opportunities and enhance the company’s market position by serving over 1,400 employer and payer clients. Accolade has withdrawn its previous financial guidance for the fiscal year but plans to report its third-quarter financial results within the previously provided guidance range.
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