Redfin Co. (NASDAQ:RDFN) Insider Christian John Taubman Sells 3,632 Shares

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 3,632 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the sale, the insider now owns 71,720 shares of the company’s stock, valued at $663,410. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Redfin Stock Up 3.1 %

Shares of RDFN stock opened at $9.32 on Friday. The stock’s 50-day simple moving average is $7.13 and its 200-day simple moving average is $6.75. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $1.13 billion, a PE ratio of -7.83 and a beta of 2.65. Redfin Co. has a fifty-two week low of $4.26 and a fifty-two week high of $11.16.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.25) earnings per share. Equities analysts expect that Redfin Co. will post -1.14 earnings per share for the current year.

Analysts Set New Price Targets

RDFN has been the topic of several recent analyst reports. Stephens raised Redfin from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $9.00 in a research report on Wednesday, May 8th. DA Davidson reaffirmed a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, July 3rd. Citigroup reduced their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Redfin in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.18.

Institutional Trading of Redfin

Several hedge funds and other institutional investors have recently bought and sold shares of RDFN. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Redfin by 30.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,218 shares of the company’s stock worth $260,000 after acquiring an additional 5,892 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Redfin during the fourth quarter worth about $273,000. Headlands Technologies LLC acquired a new stake in Redfin during the fourth quarter worth about $844,000. Victory Capital Management Inc. grew its holdings in Redfin by 24.9% during the fourth quarter. Victory Capital Management Inc. now owns 14,856 shares of the company’s stock worth $153,000 after acquiring an additional 2,957 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in Redfin by 113.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 126,835 shares of the company’s stock worth $1,309,000 after acquiring an additional 67,290 shares during the period. 61.07% of the stock is owned by institutional investors and hedge funds.

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.