Robert L. Reffkin, Chairman and CEO of Compass, Inc. (NYSE:COMP), a $3 billion market cap real estate technology company with annual revenues exceeding $5.3 billion, recently sold 49,316 shares of the company's Class A common stock. According to InvestingPro data, COMP stock has shown significant volatility, gaining nearly 70% over the past year. The shares were sold at an average price of $5.9054, amounting to a total transaction value of approximately $291,230. Following this transaction, Reffkin holds 2,950,684 shares directly. Additionally, he holds indirect ownership of 7,828,116 shares through various trusts and corporations. This sale was conducted as part of a pre-arranged trading plan under Rule 10b5-1. For deeper insights into insider transactions and 12+ additional ProTips about COMP's financial health and valuation, consider accessing the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Compass Inc. has seen several significant developments. Oppenheimer has raised its target price on Compass shares to $9.50 from $8.50, maintaining its Outperform rating. This adjustment follows Compass's strategic acquisition of Christie's International Real Estate, Midwest and Atlanta brokerages, and a Title company for $444 million. The acquisition is expected to bring in international referrals and expand title services in attorney-directed states.
Compass also reported robust growth in its third-quarter earnings, with a significant rise in revenue and transactions. The company's adjusted EBITDA increased to $52 million, a 139% increase from the same quarter in the previous year. Oppenheimer expects Compass to achieve $30 million in cost synergies over time, with a 7% increase in fiscal year 2025 and a 15% rise in fiscal year 2026 for existing home sales. These recent developments highlight the ongoing momentum and growth trajectory of Compass Inc. in the real estate technology sector.
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