Compass (NYSE:COMP) Shares Gap Up – Here’s Why

Shares of Compass, Inc. (NYSE:COMP) gapped up prior to trading on Wednesday . The stock had previously closed at $5.58, but opened at $6.37. Compass shares last traded at $6.59, with a volume of 2,354,863 shares trading hands.

Analyst Ratings Changes

COMP has been the topic of several analyst reports. Oppenheimer upped their price objective on Compass from $8.50 to $9.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group upped their price objective on Compass from $4.40 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Compass in a research report on Thursday. Barclays upped their price objective on Compass from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group upped their price objective on Compass from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.01.

Compass Stock Performance

The firm has a fifty day moving average price of $6.43 and a two-hundred day moving average price of $5.64. The stock has a market capitalization of $3.43 billion, a P/E ratio of -16.81 and a beta of 2.92.

Insider Buying and Selling

In related news, CEO Robert L. Reffkin sold 49,316 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.91, for a total value of $291,457.56. Following the transaction, the chief executive officer now directly owns 2,950,684 shares of the company’s stock, valued at approximately $17,438,542.44. This trade represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Excalibur (Cayman) Ltd Svf sold 10,000,000 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $6.33, for a total value of $63,300,000.00. Following the completion of the transaction, the insider now directly owns 58,070,273 shares in the company, valued at approximately $367,584,828.09. This represents a 14.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,887,109 shares of company stock valued at $75,125,906. 6.25% of the stock is owned by company insiders.

About Compass

Compass, Inc provides real estate brokerage services in the United States. It operates a cloud-based platform that provides an integrated suite of software for customer relationship management, marketing, client service, operations, and other functionality in the real estate industry. The company offers mobile apps that allow agents to manage their business anytime and anywhere, as well as designs consumer-grade user interfaces, automated and simplified workflows for agent-client interactions, and insight-rich dashboards and reports.