Takeover speculation is circulating around Rightmove following reports that US activist investor Sachem Head has built a 6% stake in the company. This holding is reportedly worth hundreds of millions of pounds.
Sachem Head reportedly believes that investors have overreacted to the potential threat of AI to Rightmove and considers the portal's shares undervalued. The fund has reportedly encouraged Rightmove to use debt to finance further share buybacks.
Meanwhile, Trevor Abrahmsohn, managing director of Glentree Estates and founder of OnTheMarket, has stated that the traditional property portal model is "on its last legs." He believes AI will increasingly allow consumers to find property without relying on traditional portal searches, potentially challenging established portals and their relationships with estate agents.
Rightmove's shares reached £8.18 in summer 2025, then dropped to £4.10 in May this year, and have recently been trading at approximately £5. Rightmove is investing in AI and technology and has also been buying back its own shares, confirming further purchases earlier this month under a programme announced in July.