Redfin Co. (NASDAQ:RDFN) Insider Christian John Taubman Sells 16,333 Shares of Stock

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 16,333 shares of Redfin stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total value of $137,850.52. Following the completion of the transaction, the insider now owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Redfin Trading Down 1.4 %

RDFN stock opened at $8.20 on Friday. The business has a 50 day simple moving average of $9.39 and a 200-day simple moving average of $9.11. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The company has a market capitalization of $1.02 billion, a P/E ratio of -6.41 and a beta of 2.63.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The firm had revenue of $278.02 million during the quarter, compared to analyst estimates of $280.21 million. During the same period in the previous year, the business earned ($0.17) earnings per share. Research analysts predict that Redfin Co. will post -1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Susquehanna lifted their price objective on shares of Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. B. Riley boosted their target price on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 30th. DA Davidson restated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research note on Tuesday, November 19th. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and upped their price target for the company from $6.00 to $6.50 in a research note on Monday, November 18th. Finally, Jefferies Financial Group raised their price objective on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Redfin presently has a consensus rating of “Hold” and an average price target of $8.98.

Institutional Investors Weigh In On Redfin

A number of institutional investors have recently bought and sold shares of RDFN. Geode Capital Management LLC increased its stake in Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after acquiring an additional 66,018 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Redfin by 124.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after purchasing an additional 1,193,900 shares during the period. Assenagon Asset Management S.A. increased its position in Redfin by 210.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock worth $13,687,000 after purchasing an additional 740,759 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Redfin by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after purchasing an additional 92,023 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Redfin in the third quarter valued at approximately $10,650,000. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

About Redfin

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.