Robert L. Reffkin, the Chairman and CEO of Compass, Inc. (NYSE:COMP), has recently executed notable stock sales, as revealed in a filing. The company’s stock has experienced impressive growth, increasing over 118% in the last year and 26% just in the past week according to data from InvestingPro. On January 15 and 17, Reffkin sold a total of 183,778 shares of Class A Common Stock under a Rule 10b5-1 trading plan established on May 10, 2024, yielding approximately $1.18 million. With analyst price targets ranging from $5.50 to $10.00 and expectations of profitability this year, these insider sales are noteworthy. For a more in-depth understanding of insider trading trends and detailed analysis, refer to the Pro Research Report available on InvestingPro.
The shares were sold at prices between $6.01 and $6.92 each. After these transactions, Reffkin directly holds 1,957,283 shares, alongside indirect ownership of 7,828,116 shares through various trusts and corporations, as detailed in the filing’s footnotes.
These transactions indicate Reffkin’s ongoing adjustments to his company holdings, offering investors insights into the trading activities of Compass, Inc.’s executives.
In other news, Compass Inc. has reported a strong financial performance, exceeding its revenue and adjusted EBITDA midpoint guidance by 8% and 230%, respectively. Needham analysts anticipate this positive trend will persist into 2025, fueled by a growing number of real estate agents choosing tech-enabled brokerages. Additionally, the potential repeal of the Clear Cooperation policy could further enhance Compass’s growth strategy.
Compass has also updated its financial outlook for the fourth quarter of 2024 and the entire year, projecting stronger results than previously expected. The company forecasts Q4 revenue between $1.36 billion and $1.39 billion, with full-year revenue anticipated to range from $5.61 billion to $5.64 billion. The adjusted EBITDA for Q4 is expected to be between $15 million and $18 million, while the full-year forecast is between $124 million and $127 million.
Oppenheimer analysts have increased their price target for Compass shares to $9.50, up from $8.50, while maintaining an Outperform rating. This change follows Compass’s strategic acquisition of Christie’s International, brokerages in the Midwest and Atlanta, and a title company in a $444 million deal. Oppenheimer forecasts that Compass will realize $30 million in cost synergies over time.
Lastly, Compass reported a significant year-over-year revenue increase and a rise in transactions in its third-quarter earnings. The company’s adjusted EBITDA surged to $52 million, reflecting a 139% increase compared to the same quarter the previous year. These developments highlight the ongoing momentum and growth of Compass Inc. in the real estate technology arena.
This article was generated with the assistance of AI and reviewed by an editor. For further details, please see our T&C.
