Insider Selling: Redfin Co. (NASDAQ:RDFN) Insider Sells 16,333 Shares of 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 shares were sold at an average price of $8.44, for a total transaction of $137,850.52. Following the transaction, the insider now owns 73,466 shares in the company, valued at $620,053.04. This represents a 18.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Redfin Trading Down 1.4 %

Shares of RDFN stock opened at $8.20 on Friday. The firm has a market capitalization of $1.02 billion, a P/E ratio of -6.41 and a beta of 2.63. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29. The firm’s fifty day simple moving average is $9.39 and its 200 day simple moving average is $9.11.

Redfin (NASDAQ:RDFN) last posted 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 business had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same quarter last year, the company earned ($0.17) EPS. Equities research analysts anticipate that Redfin Co. will post -1.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Redfin

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDFN. Hollencrest Capital Management bought a new position in Redfin in the third quarter worth $25,000. Blue Trust Inc. raised its stake in shares of Redfin by 285.7% in the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after buying an additional 2,446 shares in the last quarter. Quest Partners LLC bought a new position in shares of Redfin during the 3rd quarter worth about $47,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Redfin during the 3rd quarter valued at about $48,000. Finally, CWM LLC increased its stake in Redfin by 45.6% in the third quarter. CWM LLC now owns 8,725 shares of the company’s stock valued at $109,000 after acquiring an additional 2,734 shares during the period. 61.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RDFN. Susquehanna increased their target price on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. The Goldman Sachs Group downgraded Redfin from a “neutral” rating to a “sell” rating and raised their price objective for the company from $6.00 to $6.50 in a research note on Monday, November 18th. Jefferies Financial Group boosted their target price on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Wedbush increased their price target on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, B. Riley boosted their price objective on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Redfin currently has an average rating of “Hold” and an average price target of $8.98.

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.