Offerpad Solutions (NYSE:OPAD – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.
According to Zacks, “OfferPad Inc. provide tech-enabled platform for buying and selling residential real estate. OfferPad Inc., formerly known as Supernova Partners Acquisition Company Inc., is based in CHANDLER, Ariz. “
Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods began coverage on shares of Offerpad Solutions in a research report on Monday, February 14th. They set a “market perform” rating and a $15.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Offerpad Solutions in a research report on Wednesday, March 30th. They set a “neutral” rating and a $6.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of 9.66.
Offerpad Solutions (NYSE:OPAD – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported 0.16 earnings per share for the quarter, topping analysts’ consensus estimates of 0.03 by 0.13. The company had revenue of 1.37 billion for the quarter, compared to the consensus estimate of 1.14 billion. Research analysts anticipate that Offerpad Solutions will post 0.25 earnings per share for the current year.
In other Offerpad Solutions news, Director Kenneth D. Degiorgio bought 25,000 shares of the company’s stock in a transaction on Friday, March 11th. The shares were bought at an average cost of 3.98 per share, for a total transaction of 99,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ryan Ohara bought 10,000 shares of the company’s stock in a transaction on Tuesday, March 8th. The shares were acquired at an average price of 4.17 per share, for a total transaction of 41,700.00. The disclosure for this purchase can be found here.
Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Offerpad Solutions by 880.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,921 shares of the company’s stock valued at $26,000 after buying an additional 3,521 shares in the last quarter. Citigroup Inc. bought a new stake in shares of Offerpad Solutions in the 1st quarter valued at about $42,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Offerpad Solutions by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 358,937 shares of the company’s stock valued at $1,806,000 after buying an additional 8,859 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of Offerpad Solutions in the 3rd quarter valued at about $96,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Offerpad Solutions in the 3rd quarter valued at about $97,000. Institutional investors own 51.71% of the company’s stock.
About Offerpad Solutions (Get Rating)
Offerpad Solutions Inc, together with its subsidiaries, engages in buying, selling, renting, and renovating properties to homeowners in the United States. It operates iBuying, a real estate solutions platform for on-demand customer. The company provides customer-centric experience, which enables them to sell and buy homes online with streamlined access to ancillary services, such as mortgage and title insurance services.
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