Anthony Ray Kappus Sells 8,417 Shares of Redfin Co. (NASDAQ:RDFN) Stock

Redfin Co. (NASDAQ:RDFN) insider Anthony Ray Kappus sold 8,417 shares of Redfin stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the transaction, the insider now directly owns 29,978 shares of the company’s stock, valued at $252,714.54. This trade represents a 21.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Redfin Stock Performance

RDFN stock opened at $9.16 on Friday. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The stock has a market capitalization of $1.14 billion, a P/E ratio of -7.16 and a beta of 2.70. The company has a 50 day moving average price of $10.78 and a two-hundred day moving average price of $8.72.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the company posted ($0.17) earnings per share. Research analysts forecast that Redfin Co. will post -1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Redfin by 11.3% in the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after acquiring an additional 1,953,127 shares during the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 66,018 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after purchasing an additional 445,486 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Redfin by 124.9% in the 3rd quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock valued at $26,938,000 after purchasing an additional 1,193,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Redfin by 210.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock valued at $13,687,000 after buying an additional 740,759 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RDFN shares. Jefferies Financial Group raised their target price on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and increased their price target for the company from $6.00 to $6.50 in a research report on Monday, November 18th. Wedbush lifted their price objective on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Susquehanna upped their target price on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, DA Davidson reissued a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.98.

Redfin Company Profile

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.