Better Home & Finance (NASDAQ:BETR) Now Covered by Analysts at Needham & Company LLC

Key Points

• Needham & Company initiated coverage on Better Home & Finance (NASDAQ:BETR) with a "buy" rating and a $53.00 price target, implying roughly a 19.4% upside from the current price; the stock's consensus target across analysts is $46.50 with mixed ratings ranging from Strong Buy to Sell.
• Company insiders and major shareholders have been buying heavily—directors and Ventures IV L.P. recently added shares, insiders purchased 268,893 shares in the last 90 days and now own 23.59% of the company.
• BETR trades near $44.38 with a market cap of about $730 million, a negative trailing P/E (-4.11), and a one-year range of $10.81 to $94.06, reflecting high volatility.

Equities researchers at Needham & Company LLC started coverage on shares of Better Home & Finance (NASDAQ:BETR - Get Free Report) in a research note issued on Monday,Benzinga reports. The brokerage set a "buy" rating and a $53.00 price target on the stock. Needham & Company LLC's price objective points to a potential upside of 19.42% from the company's current price.

BETR has been the subject of several other research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Better Home & Finance in a research note on Monday, April 20th. Cantor Fitzgerald raised shares of Better Home & Finance to a "strong-buy" rating in a research note on Tuesday, January 27th. Finally, Wall Street Zen raised shares of Better Home & Finance from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $46.50.

Better Home & Finance Price Performance

Shares of NASDAQ:BETR opened at $44.38 on Monday. The firm has a 50 day simple moving average of $35.31 and a 200 day simple moving average of $41.51. The company has a market cap of $730.05 million, a price-to-earnings ratio of -4.11 and a beta of 1.84. Better Home & Finance has a one year low of $10.81 and a one year high of $94.06.

Insider Activity at Better Home & Finance

In related news, Director Harit Talwar purchased 5,000 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was purchased at an average cost of $32.89 per share, with a total value of $164,450.00. Following the completion of the purchase, the director owned 36,698 shares in the company, valued at approximately $1,206,997.22. This trade represents a 15.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ventures Iv L.P. Framework purchased 54,384 shares of the firm's stock in a transaction on Friday, April 10th. The stock was bought at an average cost of $32.96 per share, with a total value of $1,792,496.64. Following the completion of the purchase, the insider owned 1,006,696 shares of the company's stock, valued at approximately $33,180,700.16. This represents a 5.71% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 268,893 shares of company stock valued at $8,603,664 and sold 24,112 shares valued at $695,807. Corporate insiders own 23.59% of the company's stock.

Institutional Investors Weigh In On Better Home & Finance

Several hedge funds and other institutional investors have recently bought and sold shares of BETR. Jump Financial LLC bought a new stake in Better Home & Finance in the fourth quarter valued at $2,457,000. Goldman Sachs Group Inc. increased its stake in Better Home & Finance by 1,465.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 73,685 shares of the company's stock valued at $2,401,000 after purchasing an additional 68,977 shares in the last quarter. Geode Capital Management LLC increased its stake in Better Home & Finance by 90.6% in the second quarter. Geode Capital Management LLC now owns 129,881 shares of the company's stock valued at $1,609,000 after purchasing an additional 61,740 shares in the last quarter. Comerica Bank bought a new stake in Better Home & Finance in the fourth quarter valued at $1,819,000. Finally, Marshall Wace LLP increased its stake in Better Home & Finance by 151.6% in the second quarter. Marshall Wace LLP now owns 89,804 shares of the company's stock valued at $1,113,000 after purchasing an additional 54,113 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.

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