Compass (NYSE:COMP) Shares Down 8.6% – Here’s What Happened

Shares of Compass, Inc. (NYSE:COMP) dropped 8.6% on Wednesday . The stock traded as low as $11.81 and last traded at $11.6660. Approximately 5,519,121 shares traded hands during trading, a decline of 77% from the average daily volume of 24,158,904 shares. The stock had previously closed at $12.76.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on COMP shares. The Goldman Sachs Group began coverage on shares of Compass in a report on Tuesday, January 27th. They issued a “neutral” rating and a $14.00 price target for the company. UBS Group reiterated a “buy” rating and issued a $17.00 target price on shares of Compass in a research report on Monday. Compass Point set a $15.00 target price on shares of Compass in a research note on Monday, January 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Compass in a research report on Wednesday, January 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Compass in a report on Tuesday, November 4th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Compass currently has a consensus rating of “Moderate Buy” and an average target price of $13.64.

Compass Stock Performance

The business’s 50-day moving average is $11.64 and its two-hundred day moving average is $9.67.

Insider Activity at Compass

In other news, CFO Scott R. Wahlers sold 99,986 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $12.03, for a total value of $1,202,831.58. Following the completion of the sale, the chief financial officer directly owned 250,073 shares in the company, valued at $3,008,378.19. This represents a 28.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Bradley K. Serwin sold 20,953 shares of Compass stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $11.00, for a total value of $230,483.00. Following the transaction, the general counsel owned 258,712 shares in the company, valued at approximately $2,845,832. The trade was a 7.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 232,360 shares of company stock worth $2,634,501. Insiders own 4.08% of the company’s stock.

Compass Company Profile

Compass, Inc is a technology-driven real estate brokerage firm that provides a full suite of services for home buyers, sellers and renters. Utilizing a proprietary software platform, the company equips its network of licensed real estate agents with data analytics, marketing automation and client relationship tools designed to enhance efficiency and transaction transparency.

Founded in 2012 by Ori Allon and Robert Reffkin, Compass has grown from a single office in New York City to serve more than 300 markets across the United States.