Robert N. Cavanaugh, President of Accolade, Inc. (NASDAQ:ACCD), recently executed a transaction involving the sale of company shares. According to a recent SEC filing, Cavanaugh sold 214 shares of Accolade common stock on December 11, 2024, at a price of $3.622 per share, totaling $775. This sale was conducted to cover tax withholding obligations stemming from the vesting and settlement of Restricted Stock Units (RSUs), as noted in the filing. Following this transaction, Cavanaugh holds 212,941 shares directly in the $288 million market cap company. InvestingPro data shows the stock has experienced significant volatility, with shares down nearly 70% year-to-date, though current analysis suggests the stock may be undervalued.
Additionally, on December 10, 2024, Cavanaugh acquired 710 shares of common stock through the conversion of RSUs. This acquisition did not involve any cash transaction, as each RSU was converted into one share of Accolade's common stock. For comprehensive insider trading analysis and additional insights, investors can access detailed reports through InvestingPro, which offers extensive coverage of over 1,400 US stocks, including Accolade's upcoming earnings report scheduled for January 13, 2025.
In other recent news, Accolade Inc (NASDAQ:ACCD). reported robust Q2 2025 results, surpassing revenue expectations with a total of $106.4 million and exceeding its adjusted EBITDA guidance. The company also confirmed its fiscal year 2025 revenue guidance between $460 million to $475 million, projecting a positive adjusted EBITDA of $15 million to $20 million. Wells Fargo (NYSE:WFC), however, revised Accolade's price target downwards, reflecting concerns over the timing of deal closures and their impact on anticipated growth. Despite this, the firm maintained its Equal Weight rating on the stock.
Simultaneously, Stephens, Canaccord Genuity (TSX:CF), Truist Securities, and BofA Securities also revised their price targets for Accolade while maintaining Buy ratings. These adjustments were based on various factors, including the company's strong financial performance and the potential for slower revenue growth in FY26 due to staggered launches.
Accolade's management has expressed optimism about a strong pipeline with diversification across employers, health plans, and government segments. Furthermore, the company's competitive edge in the expert medical opinion product market and its successful management of marketing expenses were noted as significant developments. These are recent developments that provide a snapshot of Accolade's current business dynamics and financial health.
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