Needham & Company LLC Lowers Better Home & Finance (NASDAQ:BETR) Price Target to $35.00

Better Home & Finance (NASDAQ:BETR) had its target price reduced by equities research analysts at Needham & Company LLC from $53.00 to $35.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 60.48% from the company’s previous close.

A number of other research firms have also recently commented on BETR. Canaccord Genuity Group began coverage on shares of Better Home & Finance in a research note on Thursday, June 18th. They set a “buy” rating and a $42.00 target price on the stock. Wall Street Zen upgraded shares of Better Home & Finance from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. BTIG Research started coverage on shares of Better Home & Finance in a research note on Tuesday, June 16th. They issued a “buy” rating and a $36.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $32.00 price objective on shares of Better Home & Finance in a research note on Monday, July 20th. Finally, Roth Capital assumed coverage on shares of Better Home & Finance in a research report on Monday, June 15th. They set a “buy” rating and a $35.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Better Home & Finance Stock Up 0.0%

NASDAQ BETR opened at $21.81 on Friday. The stock’s 50-day moving average price is $26.03 and its 200-day moving average price is $31.11. Better Home & Finance has a 52 week low of $12.57 and a 52 week high of $94.06. The company has a market capitalization of $411.55 million, a P/E ratio of -1.85 and a beta of 1.71.

Insiders Place Their Bets

In other Better Home & Finance news, CEO Vishal Garg bought 15,600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $25.00 per share, with a total value of $390,000.00. Following the purchase, the chief executive officer owned 118,260 shares of the company’s stock, valued at $2,956,500. This trade represents a 15.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Chad M. Smith sold 2,455 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $30.16, for a total value of $74,042.80. Following the completion of the transaction, the chief operating officer directly owned 21,061 shares in the company, valued at approximately $635,199.76. This represents a 10.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased a total of 51,433 shares of company stock worth $1,334,148 over the last quarter. Company insiders own 27.72% of the company’s stock.

Hedge Funds Weigh In On Better Home & Finance

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new position in shares of Better Home & Finance during the second quarter worth $29,000. Russell Investments Group Ltd. bought a new stake in Better Home & Finance in the 3rd quarter valued at $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Better Home & Finance in the 2nd quarter worth $33,000. Activest Wealth Management purchased a new stake in Better Home & Finance in the 4th quarter worth $59,000. Finally, BNP Paribas Financial Markets purchased a new stake in Better Home & Finance in the 2nd quarter worth $72,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Better Home & Finance Company Profile

Better Home & Finance Holding Co engages in the provision of comprehensive homeownership services. It offers mortgage loans, real estate agent services, and title and homeowner’s insurance services. The company was founded in 2014 and is headquartered in New York, NY.