Compass CEO Robert Reffkin sells $1.18 million in stock

Published 01/18/2025, 10:02 AM
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Robert L. Reffkin, Chairman and CEO of Compass, Inc. (NYSE:COMP), recently made significant stock sales according to a recent filing. The company's stock has shown remarkable momentum, gaining over 118% in the past year and 26% in the last week alone, according to InvestingPro data. On January 15 and January 17, Reffkin sold a total of 183,778 shares of Class A Common Stock. The sales were conducted under 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 warrant attention. For deeper insights into insider trading patterns and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.

The shares were sold at prices ranging from $6.01 to $6.92 per share. Following these transactions, Reffkin holds 1,957,283 shares directly. Additionally, he has indirect ownership of 7,828,116 shares through various trusts and corporations, as outlined in the filing's footnotes.

These transactions reflect Reffkin's ongoing adjustments to his holdings in the company, providing investors with insights into executive trading activities at Compass, Inc.

In other recent news, Compass Inc. has reported robust financial performance, surpassing its revenue and adjusted EBITDA guidance midpoint by 8% and 230%, respectively. This positive trend, as noted by Needham analysts, is expected to continue into 2025, largely driven by an increase in real estate agents gravitating towards tech-enabled brokerages. The potential removal of the Clear Cooperation policy could further boost Compass's growth strategy.

Compass has also revised its financial outlook for the fourth quarter of 2024 and the full year, indicating stronger performance than initially anticipated. The company expects Q4 revenue between $1.36 billion and $1.39 billion and full-year revenue to reach 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, it is forecasted to be between $124 million and $127 million.

Analysts from Oppenheimer have raised their price target on Compass shares to $9.50, up from the previous $8.50, maintaining an Outperform rating for the company. This adjustment comes after Compass's strategic acquisition of Christie's International Real Estate, Midwest and Atlanta brokerages, and a 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 revenue increase and a rise in transactions in its third-quarter earnings. The company's adjusted EBITDA soared to $52 million, marking a 139% increase from the same quarter the previous year. These recent developments underscore the ongoing momentum and 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.

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