Share Name Share Symbol Market Type Share ISIN Share Description
Purplebricks Group LSE:PURP London Ordinary Share GB00BYV2MV74 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +1.60p +0.91% 177.20p 71,784 13:52:54
Bid Price Offer Price High Price Low Price Open Price
177.20p 179.90p 181.30p 176.80p 177.90p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate 93.70 -26.18 -10.00 536.6

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13:50:12177.202544.30AT
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13:17:17177.605597.68AT
12:50:05179.20400716.81O
12:11:56177.211,3102,321.42O
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Purplebricks (PURP) Top Chat Posts

DateSubject
16/11/2018
08:20
Purplebricks Daily Update: Purplebricks Group is listed in the Real Estate sector of the London Stock Exchange with ticker PURP. The last closing price for Purplebricks was 175.60p.
Purplebricks Group has a 4 week average price of 165p and a 12 week average price of 165p.
The 1 year high share price is 499.60p while the 1 year low share price is currently 165p.
There are currently 302,833,353 shares in issue and the average daily traded volume is 511,717 shares. The market capitalisation of Purplebricks Group is £536,620,701.52.
12/11/2018
17:46
researchanalystman: Is that the Itcm 1 who posted on wpct in feb where the net assetis now about double (about 100p) what was forecast... Seems actually analysing correctly is not the forte.( prothena/purplebricks down but net assets ??-------------Itcm1 's post feb 2018 What kpo115 is seemingly unwilling to admit is that increasingly WPCT is a big bet on Prothena, Oxford Nanoprone, Purplebricks, Benevolent AI, and Immunocore A.On the quoted side, Purplebricks has nothing on its balance sheet and Prothena is hope value, Irish mist if you like. If these two fail to deliver the sackfulls of banknotes investors are expecting the ratio of unquoted will climb ever higher.If you take a negative view on these two heavily Woodford supported outfits then you need to lop 25% off the share price in my view, being 18% for these companies and another 7% to bring the NAV discount into a more reasonable figure. This gives a fair value price for the fund as 56.25.You know what? Since jonwig has been hinting that some of the unquoteds may be a little flattering when it comes to value, let's introduce the Woodford margin of safety and call it 50.
10/11/2018
15:24
cowtrader: LOL ROG GETTING HAMMERED AGAIN :D :D TRIPLE WHAMMY THIS TIME BY SWEET KAROLINA, LTCM1 AND THE PURP SHARE PRICE LOLOLOL....HOW LONG YOU GOING TO LET THIS GO ON FOR ROG...... ITS NOT GOOD BURYING YOUR HEAD IN THE SAND AND IGNORING THE PLETHORA OF GREAT ADVICE ON HERE LOLLLOLOLOLOL GET OUT WHILST YOU CAN AS SUB 150P IS INCOMING LOLOLOLOL :D
10/10/2018
10:23
bbmsionlypostafter: Https://thenegotiator.co.uk/purplebricks-lowest-share-price/ Purplebricks stocks sinks to all-time low of £2.09p a share Latest low is part of five month trend that has seen its share value slide despite buoyant results from its UK operation recently. ......................................... Https://www.estateagenttoday.co.uk/breaking-news/2018/10/purplebricks-share-price-slumps-to-18-month-low--but-why#polls Purplebricks share price slumps to 18-month low - but why?
20/9/2018
20:05
bbmsionlypostafter: Https://www.afr.com/real-estate/residential/speechless-and-horrified-purplebricks-in-firing-line-over-discount-contest-20180920-h15n5w 'Speechless and horrified': Purplebricks in firing line over discount contest by Larry Schlesinger Real Estate Institute of NSW president Leanne Pilkington said she was left "horrified and speechless" over an "outrageous" competition run in NSW by fixed-fee agents Purplebricks to pressure vendors to lower their asking prices. As revealed by The Australian Financial Review, Purplebricks offered $5000 cash prizes to agents who secured the most 5 per cent or more price reductions from their clients as the company tried to clear a growing list of unsold homes amid the slowing housing market. In some instances agents of Purplebricks, which is not a member of the REINSW, pressured vendors into reducing asking prices by as much as 20 per cent in the space of a week as they competed for the $5000 prize "generously supported" by co-founder Kenny Bruce. In total more than 100 price reductions were secured as part of the "NSW Raffle". Amid the revelations, Purplebricks' share price crashed 6.5 per cent in London on Wednesday to an 18-month low of £2.226. It has fallen 25 per cent over the past month. Ms Pilkington, who is also managing director of estate agency Laing + Simmons, said her jaw dropped when she read about the Purplebricks competition. "I am speechless. I am horrified. Asking prices dropping is something we all accept but trying to get a [minimum] 5 per cent reduction from everybody without discriminating at all, that's outrageous. "I'll be having conversations with the NSW Office of Fair Trading and seeing how this sits with them," she said. "Estate agents are paid to act in their clients' best interests by law. How can this be in their best interests?" Purplebricks initially threatened to go to court to seek an injunction to prevent publication of the Financial Review's exclusive story. The company later defended the competition as "entirely normal". 'Really bad experience' Further trouble could be brewing for Purplebricks with a number of vendors coming forward on Thursday to describe how Purplebricks agents pressured them to reduce their asking prices in NSW and other states. "I'm currently listed with their Victorian division, and yes, my agent has been hassling me to drop my asking price," said a vendor who asked not to be named. Another former Purplebricks vendor in NSW, said he was looking into a class action following revelations about the vendor discounting competition. "We were pressured pretty quickly to reduce our price ... it was a really bad experience." A spokeswoman for NSW Fair Trading said it was not currently investigating Purplebricks but was "working with Purplebricks to ensure it is compliant with state and federal legislation". Recently, the Financial Review revealed that WA's Department of Mines, Industry Regulation and Safety, which is leading a joint examination of Purplebricks by state regulators, was investigating "suspected contraventions" of real estate, business and consumer laws by Purplebricks in WA. Purplebricks has sold more than 4200 homes in Australia since launching two years ago, but this year has battled an exodus of "broke" agents amid accusations – strongly denied by the company – of a toxic work culture. Purplebricks recently announced it would increase its fixed fee to $8800 – the third increase this year – with half to be paid up front and the rest on settlement. Agents who currently earn just over $1000 per listing, can earn a second fee if they negotiate a sale. The new fee model, brought it in under Kenny Bruce, is designed to make the offering more palatable to vendors while offering a financial incentive to agents to get a sale, as well as encourage new recruits to join. But the latest revelations of a competition to get vendors to cut their prices will likely have the opposite effect. 'No motivation to sell' Ben Reid, managing director of Ian Reid Vendor Advocates, called the Purplebricks vendor discounting competition "disgraceful". "It is clear their modus operandi is not to get the highest and best price, but to get the listing and then get the property off their books quickly. "This is what happens when you operate with an upfront fixed fee. There's no motivation to even sell because you have already been paid," Mr Reid said. "Simply slashing the price" is not necessarily the only way to get a result in the current market, said Mr Reid whose firm takes a cut of agent's commission as payment for advising on behalf of the vendor. He said presentation, marketing strategy, method of sale and having the right agent were all factors in getting the best outcome.
09/9/2018
17:34
jonwig: A lesson from the master. Who can possibly argue with Neil Woodford? Although PURP is performing well, the share price is wrong (4 Sept): By contrast, Woodford said the companies in his portfolio continue to perform positively “with one or two exceptions”. However he said that this was not yet being reflected in the share price. He said this was particularly true of domestically-focused holdings like housebuilder Barratt Development, the second largest holding in the Woodford UK Equity Income fund, and online estate agent Purplebricks, both of which have taken a hit to their share price in 2018. Https://portfolio-adviser.com/woodford-em-stress-validates-my-winners/
08/3/2018
09:42
ltcm1: Good luck with your long rog. Like their listings, the Purp share price is only good for 10 months. Caveat emptor!!!
02/2/2018
07:50
bobmonkeyhouse: Purplebricks blames City consultancy for sharp share price fall Purplebricks has this morning issued an unusual statement to the Stock Exchange blaming a City report for the sharp fall in the agency’s share price yesterday afternoon. The report alleged the agency sold fewer than 52 per cent of its listed homes in one particular month. The agency's share priced dropped around 40 points - some nine per cent - during yesterday's trading. This morning's statement says: Purplebricks Group plc (AIM: PURP) ("Purplebricks" or "the Group"), the hybrid estate agent, notes its share price decline yesterday afternoon. Purplebricks knows of no reason for the share price fall other than the research note published by Jefferies International Ltd. ("Jefferies") after market close. Purplebricks contests the findings of the Jefferies research report. Jefferies estimated Purplebricks' completion rate is based on a single month's data and does not include properties that have completed but have yet to be uploaded to the Land Registry, which can take several months. Equally the research does not take into account properties which have exchanged, have reached sold subject to contract (SSTC), or are on marketing breaks. Purplebricks reiterates its most recently published sales conversion rate from instruction to sale agreed of 78 per cent, which it believes more accurately reflects its sales performance, although this figure itself does not include those properties in the sales pipeline at the end of the period which will in due course sell. Purplebricks firmly refutes the criticism in the research note of its revenue recognition policy and stands behind both the fully audited results and the accounting policy itself. Yesterday we reported the Jefferies report, in which equity analyst Antony Codling looked at the stock Purplebricks took on board in November 2016. By looking at what happened to those properties over the following 10 months, Codling concluded that Purplebricks’ 51.6 per cent sales figure was “”a similar success rate to the overall market.” Codling then took issue with the agency over its claim, made in 2016, that it sold 88 per cent of its stock; he also said the odds for customers using the agency were “finely balanced” because 48.4 per cent of homes did not sell. Purplebricks this morning also provided an update for what it called “the start of the important spring market”, claiming: - 6,160 instructions in January 2018, up 66% year-on-year resulting in further overall market share growth; - agreed sales in January 2018 alone on 4,618 UK properties; - online market share increased in January 2018 to 77%; - Purplebricks has now sold and completed on over £10bn of UK property; - Australia continues to build and remains on-track; - The US is proceeding to plan and work continues at pace towards launch in New York; - "With a few key months remaining the Board of Purplebricks is pleased with progress and confirms trading is in line with the Board's expectations for the year ending 30 April 2018”.
15/12/2017
09:10
elcapital2017: Purplebricks: Estate Agent Today's experts look behind the latest figures Purplebricks: Estate Agent Today's experts look behind the latest figures Here it is - the industry’s verdict on the latest set of figures from Purplebricks. The agency doesn’t play by any of the rules we’re familiar with: who worries about completion rates in the UK when expansion in Australia and the US are priorities? In return, the market doesn’t quite know what to do either: Purplebricks’ share price quickly rebounds from public criticism of the company on the BBC, yet drops two days in a row after what most people regard as a successful first six months of the trading year. Either way, the firm now has 74 per cent dominance of the online sector, hugely increased revenues, and appears well on the way to meeting its ambition of becoming Britain’s largest estate agency by stock. So once again Estate Agent Today has assembled its panel of experts to give considered, authoritative opinions on the most controversial company in agency today. Our thanks go to our contributors, and thanks to you, too, for reading - and please feel free to add your views. Ian Wilson, chief executive officer of The Property Franchise Group: Purplebricks: Estate Agent Today's experts look behind the latest figures “I’d say it’s a good set of results where it counts - which is the size of the LPE footprint and the trading volume. The rest of the online players are not getting any traction and Purplebricks is probably one-year away from becoming uncatchable.” “There is no evidence yet that customers are (en masse) dissatisfied with what they have purchased. Purplebricks remains a textbook example of the power of a single, national brand and clear customer proposition." "The industry has to wake up and smell the coffee.” Mike DelPrete, a US-based PropTech expert and consultant at media firm AIM: “Purplebricks should be commended for two things: its large scale and strong growth. Doubling the number of instructions at that scale is no easy task, and is unmatched by its peers.” “Purplebricks is doing more business, in a shorter time, than similar models [US portal] Redfin (which has raised $300 million and is listed with a valuation of $1.98 billion) and Compass (which has raised over $750 million and is valued at $2.2 billion). Redfin launched in 2004 and Compass in 2012.” “But make no mistake, success in the US market is far from certain and will be achieved along a different path than that taken in the UK and Australia.” Anthony Codling, equity analyst at Jefferies International: “The success or failure of Purplebricks will rest on their ability to sell homes, whilst charging a non-returnable upfront fee. Until they are willing to disclose those statistics, which as a data driven company they must have, I believe the jury remains out with respect to the effectiveness of their model.” Purplebricks: Estate Agent Today's experts look behind the latest figures “I do not doubt that Purplebricks is the clear market leader of the non-traditional agents, which suggests that in terms of winning listings their strategy has been more effective than their peers." "Basing growth on TV regions, growing from a regional player to a national one was a canny plan. Most of the others attempted a national footprint from day one, which stifled growth as they spread themselves too thin.” “Purplebricks is no longer just about the LPEs – you actually have around one person back at base for every LPE on the road – most of whom sit in one big office rather than in a network of offices close to the customers they are trying to serve.” “To my mind, this is more about Purplebricks having to strengthen its infrastructure and adapt its model, putting in more lifeguards if you will rather than traditional agencies being able to treading water.” James Dearsley, PropTech influencer and partner in PropTech Consult: “On a top-level look, these results are looking positive for Purplebricks, further validation that the online/hybrid sector is gathering steam with a few major players leading the pack.” “I am concerned that still there is no mention of sale numbers. However, perhaps some conclusions can be drawn by their claim that they have now have 20 people in staff support. If they are selling that many, surely they would need more than this to cope with the sales progression?” “The outlook on Australia shows great growth and perhaps in the US it is too early to tell at this stage. There are signs that this model could possibly work elsewhere which paves way for others to enter, but I fear for the long term in the US.” “The money needed to scale that operation up successfully and gain some form of brand equity, which is obviously forming well in the UK, could cause a serious hole in their balance sheet in coming years.” Chris Wood, industry campaigner and managing director of PDQ Estates: Purplebricks: Estate Agent Today's experts look behind the latest figures “Michael Bruce repeatedly stated that they sell (complete) on 88% of all property listed. They have since made statements that this figure is higher. Independent data from GetAgent suggests a rather different figure. A lack of evidence to substantiate a claim made by the CEO of a PLC suggests that they do not have the evidence to substantiate the claim made. “The statement is clever in that it avoids mentioning any growth into the traditional market which, last year, showed call-centre agents were losing or, at least relatively static. Purplebricks clearly dominate the call-centre market share (circa 5% of the UK market as a whole) however, if they are to achieve the growth they promised to investors (albeit outside of the timescale advertised) they will have to start eating into the remaining 95% of the market which will require more spend and, I would suggest, much more transparency in the success they make much of.” Iain White, industry consultant and mentor at Agency Mentors: “If the results were good, would the sales data be published or would it still be too early to have representative completions data? I believe they are shying away because the results are not convenient for them and would allow a real cost comparison between the upfront fee model against payment on results model.” Purplebricks: Estate Agent Today's experts look behind the latest figures “The media spotlight on Purplebricks has given the customer food for thought about transparency and it does look like their instruction volumes are not increasing despite the reported increase in the number of LPEs.” “These figures show us that Purplebricks’ marketing message has worked better that the rest and that they are the dominant force for those choosing the upfront payment model." "Logic suggests consolidation or collaboration is inevitable among Purplebricks’ competitors and perhaps new models and tech are being readied to fill the obvious gap between the traditional and upfront consumer options.” “Traditional agents are entering an era of collaboration, consolidation and transparency. This, coupled with great tech will signal a whole new breed of lean, capable and genuinely local experts who know their area and have the tools, marketing budgets and back-up to service customers properly.” “That said, recruitment is a big problem for all estate agents. The trick isn’t having lots of people, it’s about having effective people who are passionate about what they are doing. Work-life balance is a real issue that our industry needs to face up to, and at present is largely ignoring.” Jeremy Leaf, north London estate agent and a former RICS residential chairman: “Not surprisingly, Purplebricks appears to be taking a growing share of non-traditional online agency business. However, the lack of real evidence of its inroads into traditional agency via sale completion numbers, as well as the proportion of listings it actually sells, continue to cast doubts on the proposition.” “My personal view is that Purplebricks may find favour with sellers of similar houses or flats in blocks where a ‘going rate’ is established but will struggle on larger, more individual properties, especially as the property market softens. Traditional agents will then have a better opportunity to demonstrate value and service to their customers and potential customers.” hTtps://www.estateagenttoday.co.uk/breaking-news/2017/12/purplebricks-estate-agent-todays-experts-look-behind-the-latest-figures
21/9/2017
09:28
thirty fifty twenty: So at least we agree .... that if the stock falls 5% from here there will be the start of a serious de-rating! so you think that a stock has fallen 25% already in less than a month but that a de-rating will only start after the next 5% we are also agreed that the stock is on a huge valuation (even after the 25% fall. what I find with most bulls on this stock is that they muddle the business and the rating. I fully expect PURP to meet expectations next week. And I fully expect they will be able to say Oz is growing, and I fully expect them to say they have sold x houses in the US and to re-quote that the US market is worth some many bn. And I fully expect them to indicate that they are NOW actively looking at new territories. This is because the company is a marketing company with a neat idea. We are agreed that the company has no moat around its business. There are no barriers to entry and they have nothing that cannot be copied, and in the states already is copied. It is easy to see how innovators enter a market with a cheap product and take 3-4% market share. In my experience it is illogical to think that they can grow from 3-4% to 16% without any reaction from competitors. So I don't believe they will get to 16% of the UK market but actually for my investment decision I have assumed they will!! Based on house broker forecasts this even in 3 years, with turnover at £230m will only have 10% EBITDA margins - that is lower than a good manufacturer!! And even in three years and after 5 years of trading they will have debt of c.£30m. I assume the model must have c.£30 debt if it is modelling £3m of interest charges. However in the past people have believed this possible and it is a golden rule that the market can stay higher longer that one can stay solvent. My investment decision is based on the point that to date the market has valued that very highly and momentum traders have taken the price to stratospheric levels. There is now clear evidence that the vast majority of momentum trade stocks have now fallen significantly (c.25%) from their highs. From my watchlist (c.140 stocks) I known of c.20. The stopping of momentum trading has been reported in FT + the most popular investment journals. So whatever the business achieves my investment is based on the belief that the rating will reduce. It is happening all over the market and there is clear evidence of a head and shoulder chart top with PURP specifically. PURP is being highlighted in the last week as a technical short in 2 of the 3 broker sites I use. Then you have the negative press. From Allagents to the headlines and comments in the Daily Mail. Then there is Tom Winniforth saying that the value is zero. So more and more people are being critical of PURP. It actually doesn't matter to my investment decision if they are right or not as more will sell (makes perfect sense to lock in their profit). It was interesting that Woodford sold about 10,000 shares last week and the price crashed over 30p! Obviously I have holder bias, my position is clear I normally trade long in smaller equities, but the risk reward in PURP was so unique and potentially so larger from over 1,000 companies I have looked at, I decided to take a short position. I have a 12 moths view. From the chart there is serious resistance at 420p, though the downtrend will not be broken unless it rises above 450p IMHO. So as I see it I risk losing 10% - I think this is 20% probability But the technical , and next support level is 300p - 30% profit (over 12 months and a 50% probability) I am intrigued that your posts do not actually encourage anyone to buy before the TU next week. You seem to have access to the figures, you've met the CEO, yet you only have a small % in PURP despite the 300% rise in 9 months and yet your final piece of advice is not that PURP are a share to buy but that I should close my short.... Anyway time will tell see you here in 12 months, or when the price hits 300p, or when it rises above 450p (if i'm wrong i'm wrong). For my investment decision it may not be this trading up, or the next one, but over 12 months I just need one wobble in the market. In fact although I have my position today - if it rises from here (but remains below 450p) I will be increasing my short. And I know of 2 others with the same approach so of course a 10% fall in the price would be nice but a rise in the share price with the TU could provide a 1 in 100 opportunity for my investing strategy. I see Capita has further very large falls today. it used to be on a premium rating but that has changed over the past 18 months. It has another thing in common with PURP - being the current PURP chairman and Woodford as the biggest shareholder. I accept in advance that this is very much holder bias to think investors will correlate this to PURP but it is another example of how a darling share price of the stockmarket can suddenly be 50% down over 12 months even though it still makes lots profits and is good in its industry. All, IMHO, DYOR + BoL PURP is in my top5 (short)
20/9/2017
09:20
hpcg: The main thing which will come out of this is that the currently unreasonable estate agent commissions will finally be reduced to something which is more in line with the skill, training and work involved. PURP may get a small part of this smaller pie, but really it is just an introduction agency for sole traders to work through - after all they are the ones doing the work. The PURP share price rise is a story which has been repeated many times before and will be many times again. The narrative is that newco breaks existing business model, takes 90% of market share, and we all live happily ever after in dividend city. The reality, in this case, is there is no new business model. It is exactly the same business just with a different pricing model. The existing players can instantaneously react by reducing their prices. Actually a more effective model would be one based on fixed fees and bonuses rather than straight flat fees. This would also sharpen listing prices to better represent the property and the market conditions, and lead to a keener market because the incentives are in the right place. People are correlating this with RMV when the latter was a new business model. It replaced the printed press who could not compete on price, local papers were largely free by then, and provided functionality which could not be provided by a paper. Network effects were beneficial to RMV, but are at best neutral, and possibly detrimental to PURP as relies on third parties to conduct its operations. As an aside, at this time the PURP business is not so relevant. The market structure where there are no active institutional buyers and one very large shareholder with big profits to lock in and at the same time redemptions to fund.
Purplebricks share price data is direct from the London Stock Exchange
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