Stephen H. Barnes, the Chief Financial Officer of Accolade, Inc. (NASDAQ:ACCD), recently executed a transaction involving the company's common stock. According to a Form 4 filing with the Securities and Exchange Commission, Barnes sold 5,640 shares on December 3, 2024, at a price of $3.595 per share, totaling approximately $20,275. The transaction comes as Accolade's stock, currently trading at $3.44, has experienced a significant decline of about 46% over the past six months. InvestingPro analysis suggests the stock is currently trading below its Fair Value.
The sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs), as noted in the filing. This transaction was part of a "mandatory sell to cover" arrangement, indicating it was not a discretionary sale by Barnes. Following this transaction, Barnes holds a total of 219,623 shares of Accolade's common stock.
Earlier, on December 2, 2024, Barnes acquired 18,679 shares of common stock through the vesting of RSUs, which did not involve any direct financial exchange. These RSUs were converted into common stock as part of Barnes's compensation package.
In other recent news, Accolade Inc (NASDAQ:ACCD). has been the subject of multiple financial outlook revisions by major analyst firms. Wells Fargo (NYSE:WFC) adjusted its price target for Accolade downwards to $6.00, citing concerns over the timing of deal closures and their potential impact on the company's growth. However, the firm maintained its Equal Weight rating, suggesting a balanced risk-reward profile at the new price target level.
Accolade recently 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 also 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.
Other firms such as Stephens, Canaccord Genuity, Truist Securities, and BofA Securities also revised their price targets for Accolade, while maintaining Buy ratings. Notably, Stephens adjusted its model to reflect a 12% revenue growth for Accolade in fiscal years 2025 and 2026. Canaccord Genuity expressed confidence in Accolade's ability to meet performance guarantees and secure new business, despite the company's third-quarter guidance falling below estimates.
Accolade's management has expressed optimism about a strong pipeline with diversification across employers, health plans, and government segments. However, slower revenue growth is anticipated in fiscal year 2026 due to staggered launches. Despite these challenges, Accolade's financial performance and strategic direction have been positively received by analysts.
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