Compass, Inc. (NYSE:COMP), a prominent player in the management and development industry with a market cap of $2.85 billion, saw its Chairman and CEO Robert L. Reffkin sell a significant portion of his Class A common stock, according to a recent filing. On January 6 and 7, Reffkin sold a total of 809,623 shares, with prices ranging from $5.90 to $5.91 per share, generating approximately $4.78 million. These transactions were executed automatically under the Rule 10b5-1 plan, which Reffkin adopted in May 2024. Following these sales, Reffkin retains direct ownership of 2,141,061 shares and indirect ownership of 7,828,116 shares through various trusts and corporate entities. The stock, which has shown significant volatility with a beta of 2.93, has gained more than 53% in the past six months. InvestingPro subscribers can access 13 additional key insights about COMP, including detailed insider trading patterns and comprehensive valuation metrics.
In other recent news, Compass Inc. it was at the center of several significant events. Oppenheimer recently raised their price target on the company’s stock from $8.50 to $9.50, citing upside potential. This follows another upgrade from Oppenheimer, which raised its target from $8.00 to $8.50 due to effective cost management and improved EBITDA expectations.
The company also made strategic acquisitions of Christie’s International Real Estate, Midwest and Atlanta brokerages, and Title, for a total of $444 million. The acquisition is expected to increase international referrals and expand ownership services in traditionally challenging markets.
Compass Inc. reported strong growth in its earnings in the third quarter, with a significant year-over-year increase in revenue and an increase in transactions. Adjusted EBITDA reached USD 52 million, representing an increase of 139% compared to the same quarter of the previous year.
Oppenheimer also anticipates that Compass will realize $30 million in cost synergies over time. Looking ahead, the company is expected to benefit from production headwinds in fiscal 2025, with Oppenheimer adjusting its growth forecasts to a 7% increase in fiscal 2025 and a 15% increase in fiscal 2026 for sales of existing house. These developments underscore Compass Inc.’s continued growth trajectory. in the real estate technology sector.
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