Compass, Inc. (NYSE:COMP), a prominent player in the Real Estate Management & Development industry with a market capitalization of $2.85 billion, saw its Chairman and CEO Robert L. Reffkin recently sell a significant portion of his Class A Common Stock holdings, 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 conducted automatically under a 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 over 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. has been the focus of several significant developments. Oppenheimer recently upgraded the company’s shares target from $8.50 to $9.50, citing growth potential. This follows another upgrade from Oppenheimer, which raised the target from $8.00 to $8.50 due to effective cost management and improved EBITDA expectations.
The company has also made a strategic acquisition of Christie’s International Real Estate, Midwest and Atlanta brokerages, and a Title company, totaling $444 million. This acquisition is expected to enhance international referrals and expand title services in traditionally challenging markets.
Compass Inc. reported robust growth in its third-quarter earnings, with a substantial year-over-year revenue increase and a rise in transactions. The adjusted EBITDA reached $52 million, marking a 139% increase from the same quarter in the previous year.
Oppenheimer also anticipates that Compass will achieve $30 million in cost synergies over time. Looking ahead, the company is expected to benefit from product tailwinds in the fiscal year 2025, with Oppenheimer adjusting its growth forecasts to a 7% increase in fiscal year 2025 and a 15% rise in fiscal year 2026 for existing home sales. These developments highlight the ongoing growth trajectory of Compass Inc. in the real estate technology sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.