Richard Eskew, Executive Vice President and General Counsel at Accolade, Inc. (NASDAQ:ACCD), recently sold shares of the company worth $12,873, according to a recent filing with the Securities and Exchange Commission. The transaction took place on December 3, 2024, with Eskew selling 3,581 shares at an average price of $3.595 per share. This transaction comes as the stock has experienced significant volatility, declining 45.58% over the past six months, with shares currently trading at $3.46.
The sale was executed to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). This transaction was not discretionary, as it was a "mandatory sell to cover" to satisfy these obligations. According to InvestingPro analysis, which offers comprehensive insights through its Pro Research Reports covering 1,400+ stocks, ACCD currently appears undervalued based on its Fair Value assessment.
In addition to the sale, Eskew also acquired a total of 11,841 shares of common stock through the conversion of RSUs on December 2, 2024. These transactions did not involve any cash exchange, as the RSUs were converted into shares at no cost. Following these transactions, Eskew holds 62,507 shares of Accolade's common stock directly, representing a stake in the company's $277.85 million market capitalization.
In other recent news, Accolade Inc (NASDAQ:ACCD). has been the focus of several financial adjustments from major firms. Wells Fargo (NYSE:WFC) revised its price target for Accolade to $6.00, citing concerns over deal closures and their impact on the company's anticipated growth. However, the firm noted that moderate growth in Annual Contract Value could still meet revenue consensus estimates for FY26. Stephens also adjusted its price target for Accolade to $8.00, while maintaining an Overweight rating. The firm highlighted potential catalysts for Accolade, including off-cycle large deals and additional revenue from government contracts.
Canaccord Genuity reduced its price target on Accolade's shares to $7.00, maintaining a Buy rating. Despite the company's third-quarter guidance falling below estimates, the firm expressed confidence in Accolade's ability to meet performance guarantees and secure new business. Truist Securities and BofA Securities also revised their price targets for Accolade, to $7.50 and $5.75 respectively, while maintaining Buy ratings.
In terms of financial performance, Accolade reported strong second-quarter results for 2025, exceeding revenue expectations with a total of $106.4 million and surpassing its adjusted EBITDA guidance. The company confirmed its fiscal year 2025 revenue guidance between $460 million to $475 million and projected a positive adjusted EBITDA of $15 million to $20 million. Despite anticipated slower revenue growth in fiscal year 2026 due to staggered launches, Accolade's management remains optimistic about a strong pipeline across employers, health plans, and government segments.
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