Robert L. Reffkin, President and Chief Executive Officer of Compass, Inc. (NYSE:COMP), a $3 billion market cap real estate technology company with annual revenue in excess of $5.3 billion, recently sold 49,316 shares of the company’s Class A stock. According to InvestingPro data, COMP stocks have shown significant volatility, gaining nearly 70% over the past year. The shares were sold at an average price of $5.9054, for a total transaction value of approximately $291,230. Following this transaction, Reffkin directly holds 2,950,684 shares. In addition, he has indirect ownership of 7,828,116 shares through various trusts and corporations. This sale was made as part of a prearranged trading plan under Rule 10b5-1. For deeper insight into insider trading and 12+ additional pro tips on COMP’s financial health and valuation, consider accessing the comprehensive Pro Research Report available at InvestingPro.
In other recent news, Compass Inc. has experienced several significant developments. Oppenheimer raised its target price on Compass shares to $9.50 from $8.50, maintaining its Outperform rating. This adjustment follows Compass’ strategic acquisition of Christie’s International, Midwest and Atlanta brokerages and Title for $444 million. The acquisition is expected to bring international referrals and expand title services in lawyer-led states.
Compass also reported strong growth in its earnings in the third quarter, with significant increases in revenue and transactions. The company’s adjusted EBITDA increased to $52 million, an increase of 139% compared to the same quarter last year. Oppenheimer expects Compass to achieve cost synergies of $30 million over time, with a 7% accretion in fiscal 2025 and a 15% accretion in fiscal 2026 for existing home sales. These recent events underscore Compass Inc.’s current momentum and growth trajectory. in the real estate technology sector.
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