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 incredible momentum, gaining more than 118% in the last year and 26% in the last week alone, according to InvestingPro data. On January 15 and January 17, Reffkin sold 183,778 shares of Class A Common Stock. The sale was conducted under a Rule 10b5-1 trading plan approved on May 10, 2024, and generated approximately $1.18 million. With analyst price targets ranging from $5.50 to $10.00, and profit expectations this year, these insider transactions warrant attention. For in-depth insight into insider trading patterns and comprehensive analysis, see the detailed Pro Research Report available InvestingPro.
Shares were traded at prices ranging from $6.01 to $6.92 per share. Following this transaction, Reffkin holds 1,957,283 shares directly. Additionally, he has indirect ownership of 7,828,116 shares through various trusts and entities, as disclosed in the filing's footnote.
These transactions reflect Reffkin's ongoing restructuring of his business at the company, which provides investors with insights into the high-profile trading activities at Compass, Inc.
In other recent news, Compass Inc. reported strong financial performance, exceeding its revenue and adjusted EBITDA guidance by 8% and 230%, respectively. This positive trend, as noted by Needham analysts, is expected to continue until 2025, driven mainly by the increase in real estate agencies that are attracted to technology-enabled brokerages. The potential removal of the Clear Partnership policy could further boost Compass' growth strategy.
Compass also updated its financial outlook for the fourth quarter of 2024 and the full year, showing stronger-than-expected performance. 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 estimated to be between $124 million and $127 million.
Analysts at Oppenheimer raised their target price on Compass shares to $9.50, from $8.50 previously, to maintain the company's Outperform rating. The restructuring comes after the strategic acquisition of Christie's International, Midwest and Atlanta brokerages, and the Title company, in a deal valued at $444 million. Oppenheimer expects that Compass will achieve $30 million in cost synergies over time.
Finally, Compass reported a significant year-over-year increase in revenue and increased transactions in its third quarter earnings report. The company's adjusted EBITDA increased to $52 million, marking a 139% increase from the same quarter last year. These recent developments underscore the continued momentum and growth trajectory of Compass Inc. in the real estate industry.
This article is powered by AI and updated by an editor. For more information see our T&C.