Insider Selling: Redfin Co. (NASDAQ:RDFN) Insider Sells 8,417 Shares of Stock

Redfin Co. (NASDAQ:RDFN) insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $8.43, for a total transaction of $70,955.31. Following the sale, the insider now directly owns 29,978 shares of the company’s stock, valued at approximately $252,714.54. The trade was a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Redfin Trading Up 12.3 %

NASDAQ RDFN traded up $1.00 during trading on Friday, hitting $9.16. The company had a trading volume of 8,415,176 shares, compared to its average volume of 5,576,855. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The company’s fifty day moving average is $10.78 and its 200-day moving average is $8.70. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -7.16 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The business 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 earned ($0.17) earnings per share. As a group, equities analysts anticipate that Redfin Co. will post -1.23 EPS for the current year.

Institutional Trading of Redfin

Institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC grew its stake in shares of Redfin by 9.8% in the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock worth $132,000 after acquiring an additional 1,766 shares during the period. Vanguard Group Inc. raised its stake 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 buying an additional 1,953,127 shares during the period. Natixis lifted its position in shares of Redfin by 119.7% during the 1st quarter. Natixis now owns 128,500 shares of the company’s stock valued at $855,000 after buying an additional 70,000 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Redfin during the 1st quarter valued at approximately $58,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Redfin by 25.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after acquiring an additional 445,486 shares in the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a report on Tuesday. B. Riley increased their target price 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. Susquehanna boosted their target price on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Jefferies Financial Group lifted their price target on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Redfin presently has a consensus rating of “Hold” and an average target price 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.