Robert L. Reffkin, President and Chief Executive Officer of Compass, Inc. (NYSE:COMP), recently made a significant sale of shares according to a recent filing. The company’s stock has shown remarkable momentum, gaining more than 118% in the past year and 26% in the past week alone, according to InvestingPro data. On January 15 and 17, Reffkin sold a total of 183,778 shares of Class A common stock. The sale was made pursuant to a Rule 10b5-1 trading plan adopted on May 10, 2024 and generated approximately $1.18 million. With analyst price targets ranging from $5.50 to $10.00 and expectations for profitability this year, these insider transactions deserve attention. For a deeper look into insider trading patterns and comprehensive analysis, see the detailed Pro Research report available at InvestingPro.
The stock traded at prices ranging from $6.01 to $6.92 per share. Following these transactions, Reffkin directly holds 1,957,283 shares. In addition, he has indirect ownership of 7,828,116 shares through various trusts and corporations, as noted in the filing’s footnotes.
These transactions reflect Reffkin’s ongoing adjustments to his holdings in the company, providing investors with insight into executive trading activities at Compass, Inc.
In other recent news, Compass Inc. reported strong financial results, beating the median of its revenue and adjusted EBITDA guidance by 8% and 230%, respectively. This positive trend, Needham analysts noted, is expected to continue into 2025, driven largely by an increase in real estate agents gravitating to technology-enabled brokerages. The potential removal of the clear cooperation policy could further boost Compass’ growth strategy.
Compass also revised its financial outlook for the fourth quarter of 2024 and the full year, indicating better results than originally expected. The company expects fourth-quarter revenue between $1.36 billion and $1.39 billion, and annual revenue between $5.61 billion and $5.64 billion. Adjusted EBITDA for the fourth quarter is expected to be between $15 million and $18 million, and for the full year between $124 million and $127 million.
Analysts at Oppenheimer raised their price target on shares of Compass to $9.50, up from $8.50 previously, while maintaining an outperform rating on the company. This adjustment comes on the heels of Compass’ strategic acquisition of Christie’s International, Midwest and Atlanta brokerages and Title Company, in a deal valued at $444 million. Oppenheimer anticipates that Compass will achieve $30 million in cost synergies over time.
Finally, Compass reported a significant year-over-year increase in revenue and transaction growth in its third quarter earnings. The company’s adjusted EBITDA increased to $52 million, an increase of 139% compared to the same quarter last year. These recent developments highlight Compass Inc.’s continued momentum and growth trajectory. in the real estate technology sector.
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