SoFi CEO enters prepaid forward contract on 1.5 million shares
In recent transactions disclosed by Accolade, Inc. (NASDAQ:ACCD), a healthcare technology company with a market capitalization of $572 million, President Robert N. Cavanaugh sold 249 shares of common stock on March 11, 2025, at a price of $6.965 per share. The transaction comes amid the company’s impressive YTD return of 103%, according to InvestingPro data. The sale, totaling approximately $1,734, was conducted to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs) and was not a discretionary action on Cavanaugh’s part.
Additionally, on March 10, 2025, Cavanaugh acquired 710 shares of common stock through the conversion of RSUs, which did not involve any monetary exchange. Following these transactions, Cavanaugh’s direct ownership stands at 218,369 shares.
In other recent news, Accolade Inc . announced its acquisition by Transcarent for $621 million in an all-cash transaction, offering Accolade shareholders $7.03 per share. This deal, expected to close in the second quarter of 2025, represents a 110% premium over the stock’s previous closing price. Analysts at Raymond (NSE:RYMD) James adjusted their rating on Accolade from Outperform to Market Perform following this announcement. They noted the transaction’s valuation at a 1.1 times revenue multiple and a 16.5 times EBITDA multiple, although the EBITDA figure is adjusted for stock compensation.
Stifel also downgraded Accolade from Buy to Hold, aligning their price target with the offer price of $7.03, suggesting limited near-term price movement. Meanwhile, Truist Securities maintained a Buy rating with a $7.50 price target, highlighting the merger’s potential to expand market reach and enhance service offerings. The merger aims to integrate Accolade’s health solutions with Transcarent’s care experiences, enhancing client services.
Accolade has withdrawn its previous financial guidance but will still file its Form 10-Q for the third quarter as planned. The company will not host its previously scheduled conference call, reflecting the strategic shift following the acquisition announcement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.