Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
TEMPE, AZ — Opendoor Technologies Inc. (NASDAQ:OPEN) Chief Legal Officer Sydney Schaub recently sold a portion of the company’s common stock, according to a recent SEC filing. On March 18, Schaub sold 535 shares at a price of $1.135 per share, totaling approximately $607. This transaction was executed under a Rule 10b5-1 trading plan, which Schaub adopted on September 3, 2024. Following this sale, Schaub holds 1,618,576 shares of Opendoor Technologies. The sale comes as the stock trades near $1.19, down about 57% over the past year and significantly below its 52-week high of $3.23. According to InvestingPro analysis, the stock currently appears undervalued.
This transaction is part of standard trading activities and reflects Schaub’s ongoing commitment to adhering to regulatory compliance and transparency. Opendoor Technologies, a company engaged in the real estate sector, continues to be a significant player in the market, with its headquarters located in Tempe, Arizona. The company faces financial challenges with a debt-to-equity ratio of 3.25 and negative EBITDA of $248 million in the last twelve months. InvestingPro subscribers can access 18 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of the company’s financial health and market position.
In other recent news, Opendoor Technologies reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of -$0.16 compared to the forecasted -$0.17. The company also exceeded revenue projections, posting $1.08 billion against a forecast of $965.32 million, marking a 25% year-over-year increase to $1.1 billion for the quarter. However, the full-year revenue experienced a decline to $5.2 billion from $6.9 billion in 2023. Despite the positive earnings surprise, UBS analyst Chris Kuntarich maintained a Neutral rating on Opendoor, adjusting the price target to $1.20 from $2.00 due to ongoing challenges. UBS projects stable revenue growth for Opendoor in the fiscal year 2025 but anticipates a loss of $102 million in adjusted EBITDA, slightly worse than the street’s projection. The firm also noted Opendoor’s efforts to implement a more dynamic pricing model, which could enhance visibility and stimulate growth. Additionally, UBS expects Opendoor’s adjusted operating expenses to peak at approximately $90 million in the first quarter of 2025, with anticipated reductions thereafter.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.