Wu Eric Chung-Wei buys Opendoor (OPEN) shares worth $2.99m

Director Wu Eric Chung-Wei of Opendoor Technologies Inc. (NASDAQ:OPEN) purchased 451,127 shares of common stock on September 11, 2025, at a price of $6.65 per share. The total value of the purchase amounted to $2,999,994. Following the transaction, Wu directly owns 1,649,884 shares of Opendoor Technologies Inc. The stock, currently trading at $9.50, has surged 57% in the past week and over 730% in the last six months. According to InvestingPro analysis, OPEN’s RSI indicates overbought territory, while the company trades at a premium to its Fair Value.

The Reporting Person purchased the shares pursuant to a Stock Purchase Agreement by and between the Issuer and the Reporting Person in an offering exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation D thereunder. The shares are restricted securities subject to transfer restrictions until such time that they are registered pursuant to a registration statement or become eligible for resale otherwise. For deeper insights into insider transactions and 15+ additional ProTips, access the comprehensive OPEN research report on InvestingPro.

In other recent news, Opendoor Technologies Inc. has experienced several notable developments. The company announced a leadership change with Carrie Wheeler stepping down as CEO and board member, although she will remain an advisor to the board until the end of 2025. Shrisha Radhakrishna has been appointed as President and interim leader following Wheeler’s departure. In financial updates, hedge funds Qube Research & Technologies and Weiss Asset Management disclosed significant new stakes in the company, purchasing millions of shares valued at over $54 million combined. However, Opendoor faced a setback when Keefe, Bruyette & Woods downgraded its stock rating to Underperform, maintaining a price target of $1.00. The downgrade was influenced by Opendoor’s second-quarter results, leading the firm to lower its 2025 and 2026 non-GAAP EPS estimates. Additionally, Citron Research issued a critical report on Opendoor, questioning the company’s business model and financial sustainability. These recent developments offer a comprehensive view of the various challenges and changes facing Opendoor Technologies.

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