Perigon Wealth Management LLC Sells 17,000 Shares of Offerpad Solutions Inc. (NYSE:OPAD)

Perigon Wealth Management LLC cut its holdings in Offerpad Solutions Inc. (NYSE:OPAD – Get Rating) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,000 shares of the company’s stock after selling 17,000 shares during the period. Perigon Wealth Management LLC’s holdings in Offerpad Solutions were worth $266,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State Street Corp lifted its position in Offerpad Solutions by 384.7% during the 2nd quarter. State Street Corp now owns 1,213,039 shares of the company’s stock worth $2,644,000 after acquiring an additional 962,783 shares during the last quarter. Barclays PLC lifted its position in Offerpad Solutions by 4,209.1% during the 3rd quarter. Barclays PLC now owns 870,060 shares of the company’s stock worth $1,053,000 after acquiring an additional 849,869 shares during the last quarter. Northern Trust Corp lifted its position in Offerpad Solutions by 407.4% during the 2nd quarter. Northern Trust Corp now owns 624,037 shares of the company’s stock worth $1,361,000 after acquiring an additional 501,046 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Offerpad Solutions by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 358,937 shares of the company’s stock worth $1,806,000 after acquiring an additional 8,859 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Offerpad Solutions by 87.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 268,562 shares of the company’s stock worth $585,000 after acquiring an additional 125,473 shares during the last quarter. 51.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OPAD. JPMorgan Chase & Co. lowered shares of Offerpad Solutions from an “overweight” rating to a “neutral” rating in a research report on Wednesday, March 8th. Keefe, Bruyette & Woods lowered shares of Offerpad Solutions from a “market perform” rating to an “underperform” rating in a research report on Tuesday, December 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $1.00 price objective on shares of Offerpad Solutions in a research report on Tuesday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Offerpad Solutions presently has an average rating of “Hold” and an average price target of $2.24.

Offerpad Solutions Stock Up 3.3 %

NYSE OPAD opened at $0.59 on Friday. The stock has a market cap of $146.53 million, a P/E ratio of -0.97 and a beta of 1.81. The company’s 50-day simple moving average is $0.71 and its 200 day simple moving average is $0.83. Offerpad Solutions Inc. has a twelve month low of $0.38 and a twelve month high of $6.37.

Offerpad Solutions Company Profile

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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.