Redfin Co. (NASDAQ:RDFN) Insider Sells $180,730.35 in Stock

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction on Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the transaction, the insider now directly owns 74,616 shares in the company, valued at $831,968.40. The trade was a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Redfin Trading Down 1.0 %

RDFN stock opened at $10.37 on Thursday. The company’s 50-day moving average price is $8.62 and its 200 day moving average price is $9.48. Redfin Co. has a 52 week low of $5.10 and a 52 week high of $15.29. The company has a market cap of $1.31 billion, a P/E ratio of -8.10 and a beta of 2.90.

Institutional Investors Weigh In On Redfin

Institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Redfin by 14.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 258,481 shares of the company’s stock worth $2,034,000 after purchasing an additional 33,327 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Redfin by 17.4% during the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock worth $19,865,000 after buying an additional 374,200 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Redfin in the 4th quarter worth about $27,000. Point72 Asset Management L.P. acquired a new stake in Redfin in the 4th quarter valued at about $1,018,000. Finally, ProShare Advisors LLC grew its stake in Redfin by 51.9% in the 4th quarter. ProShare Advisors LLC now owns 33,663 shares of the company’s stock valued at $265,000 after acquiring an additional 11,503 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Citigroup dropped their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. B. Riley downgraded Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. boosted their target price on Redfin from $7.00 to $12.50 and gave the company a “neutral” rating in a report on Monday. Finally, Piper Sandler upgraded shares of Redfin from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $4.00 to $12.50 in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Redfin currently has an average rating of “Hold” and an average price target of $10.03.

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.