Accolade’s CFO Stephen Barnes sells shares worth $3,013

Published 03/04/2025, 15:50
Accolade’s CFO Stephen Barnes sells shares worth $3,013

In a recent transaction disclosed in an SEC filing, Stephen Barnes, the Chief Financial Officer of Accolade, Inc. (NASDAQ:ACCD), sold a portion of his holdings in the company. The healthcare technology firm, currently valued at $573 million, has shown remarkable momentum with a 90% price return over the past six months, according to InvestingPro data. On April 2, Barnes sold 431 shares of Accolade’s common stock at an average price of $6.992 per share, totaling approximately $3,013.

This sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). These actions are part of a mandatory sell-to-cover transaction, which means they were not discretionary decisions by Barnes. Following these transactions, Barnes holds 306,874 shares of Accolade’s common stock.

In other recent news, Accolade Inc . has announced a significant development as its shareholders approved a merger with Transcarent, a healthcare company. This merger, valued at approximately $621 million, will see Accolade transitioning to a privately held entity and its common stock delisted from public markets. The transaction is expected to close in the second quarter of 2025, pending customary closing conditions and regulatory approvals. Analysts from Raymond (NSE:RYMD) James have adjusted Accolade’s stock rating from Outperform to Market Perform following this acquisition announcement. In contrast, Truist Securities has maintained a Buy rating with a price target of $7.50, citing the merger’s synergistic potential. However, Stifel analysts downgraded the stock from Buy to Hold, adjusting the price target to $7.03, aligning with the offer price. The merger is anticipated to enhance Transcarent’s platform by integrating Accolade’s healthcare solutions, including virtual primary care and mental health services. The combined entity aims to provide a more personalized and efficient healthcare experience, potentially leading to cost savings and improved service delivery.

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