Accolade president Robert Cavanaugh sells shares worth $3,857

Accolade, Inc. (NASDAQ:ACCD), a healthcare technology company with a market capitalization of $564 million, saw its President Robert N. Cavanaugh recently report a transaction involving the sale of company stock. According to the SEC filing, Cavanaugh sold 557 shares of Accolade’s common stock on February 4, 2025, at a price of $6.926 per share, totaling approximately $3,857. The transaction comes as InvestingPro data shows the stock has surged nearly 90% over the past six months, with technical indicators suggesting overbought conditions. The sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs), as indicated by the filing. Following this transaction, Cavanaugh holds 216,100 shares of Accolade, Inc.

In addition to the sale, the filing also disclosed that Cavanaugh acquired 1,568 shares of common stock on February 3, 2025, through the vesting of RSUs. These RSUs were granted with a vesting commencement date of June 1, 2023, and are set to vest over a period of three years.

In other recent news, Accolade Inc . has been the subject of various analyst ratings and is set to merge with Transcarent. Analysts at Stifel downgraded Accolade from Buy to Hold, adjusting the price target to $7.03, citing less likelihood of competing bids for the company. Concurrently, Raymond (NSE:RYMD) James revised its rating from Outperform to Market Perform following Accolade’s acquisition announcement by Transcarent. The all-cash deal, valued at $621 million, will see Accolade shareholders receive $7.03 per share.

Despite these revisions, Truist Securities maintains a positive outlook on Accolade, reiterating a Buy rating with a $7.50 target, underscoring the synergistic potential of the merger. The combined entity is expected to serve over 1,400 employer and payer clients, enhancing Accolade’s market position and creating valuable cross-selling opportunities.

These recent developments come as Accolade prepares to merge with Transcarent in a deal that will see the health advocacy company become privately held. The merger is expected to close in the second quarter of 2025, subject to stockholder and regulatory approvals. The combined entity aims to deliver a more personalized and engaging member experience, reducing healthcare costs and providing easier access to quality care.

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