Insider Selling: Redfin Co. (NASDAQ:RDFN) Insider Sells $137,850.52 in Stock

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 16,333 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $8.20 on Monday. The firm has a 50 day simple moving average of $9.39 and a 200 day simple moving average of $9.13. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -6.41 and a beta of 2.63. Redfin Co. has a one year low of $5.10 and a one year high of $15.29.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results 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 the consensus estimate of $280.21 million. During the same period last year, the firm earned ($0.17) EPS. As a group, analysts expect that Redfin Co. will post -1.25 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Jefferies Financial Group raised their price target on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. B. Riley boosted their target price on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, September 30th. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $6.00 to $6.50 in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Redfin presently has a consensus rating of “Hold” and a consensus target price of $8.98.

Institutional Trading of Redfin

Several hedge funds and other institutional investors have recently made changes to their positions in RDFN. Geode Capital Management LLC raised its holdings in Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after buying an additional 66,018 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Redfin by 124.9% during the third 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. grew its stake in shares of Redfin by 210.7% in the third 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 during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Redfin by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after purchasing an additional 92,023 shares during the period. Finally, Tidal Investments LLC bought a new position in Redfin during the 3rd quarter worth $10,650,000. 61.07% of the stock is currently owned by 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.