Needham & Company LLC Has Lowered Expectations for Better Home & Finance (NASDAQ:BETR) Stock Price

Better Home & Finance (NASDAQ:BETR) had its price target reduced by research analysts at Needham & Company LLC from $53.00 to $35.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 60.55% from the stock’s current price.

Several other brokerages also recently issued reports on BETR. Roth Capital started coverage on shares of Better Home & Finance in a research note on Monday, June 15th. They issued a “buy” rating and a $35.00 price objective on the stock. Northland Securities raised shares of Better Home & Finance from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Thursday, July 9th. Canaccord Genuity Group assumed coverage on shares of Better Home & Finance in a research report on Thursday, June 18th. They issued a “buy” rating and a $42.00 price target on the stock. BTIG Research initiated coverage on shares of Better Home & Finance in a report on Tuesday, June 16th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Wall Street Zen raised shares of Better Home & Finance from a “strong sell” rating to a “sell” rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Better Home & Finance has an average rating of “Moderate Buy” and an average target price of $36.33.

Better Home & Finance Stock Down 6.2%

Shares of NASDAQ BETR opened at $21.80 on Friday. The business’s 50 day moving average is $26.13 and its two-hundred day moving average is $31.17. The company has a market cap of $411.37 million, a P/E ratio of -1.85 and a beta of 1.71. Better Home & Finance has a 12 month low of $12.57 and a 12 month high of $94.06.

Insider Transactions at Better Home & Finance

In other news, Director Harit Talwar bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $25.34 per share, for a total transaction of $126,700.00. Following the completion of the purchase, the director owned 44,698 shares of the company’s stock, valued at $1,132,647.32. This trade represents a 12.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hugh R. Frater bought 5,150 shares of Better Home & Finance stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $24.34 per share, with a total value of $125,351.00. Following the completion of the transaction, the director owned 6,326 shares of the company’s stock, valued at $153,974.84. This trade represents a 437.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 51,433 shares of company stock valued at $1,334,148. Company insiders own 27.72% of the company’s stock.

Hedge Funds Weigh In On Better Home & Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in BETR. Bank of New York Mellon Corp grew its stake in shares of Better Home & Finance by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 13,890 shares of the company’s stock valued at $495,000 after purchasing an additional 548 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Better Home & Finance in the 3rd quarter worth approximately $31,000. BNP Paribas Financial Markets lifted its position in shares of Better Home & Finance by 15.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,729 shares of the company’s stock worth $378,000 after buying an additional 894 shares during the period. Rhumbline Advisers lifted its position in shares of Better Home & Finance by 17.8% during the 3rd quarter. Rhumbline Advisers now owns 6,044 shares of the company’s stock worth $339,000 after buying an additional 914 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Better Home & Finance by 10.4% in the 4th quarter. Wells Fargo & Company MN now owns 10,447 shares of the company’s stock valued at $340,000 after buying an additional 987 shares in the last quarter. 20.94% of the stock is owned by institutional investors.

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.