Christian John Taubman Sells 16,333 Shares of Redfin Co. (NASDAQ:RDFN) Stock

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 16,333 shares of Redfin 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 completion of the transaction, the insider now directly owns 73,466 shares in the company, valued at $620,053.04. The trade was a 18.19 % 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 Price Performance

RDFN stock traded down $0.12 during midday trading on Friday, hitting $8.20. The stock had a trading volume of 2,952,397 shares, compared to its average volume of 5,467,107. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29. The firm has a market cap of $1.02 billion, a PE ratio of -6.41 and a beta of 2.63. The company’s 50-day moving average price is $9.45 and its 200 day moving average price is $9.09.

Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million during the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, sell-side analysts anticipate that Redfin Co. will post -1.25 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. DA Davidson restated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research note on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Wedbush lifted their target price on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and upped their price target for the stock from $6.00 to $6.50 in a research note on Monday, November 18th. Finally, B. Riley boosted their price objective on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.98.

Hedge Funds Weigh In On Redfin

A number of large investors have recently bought and sold shares of the stock. Franklin Resources Inc. purchased a new position in shares of Redfin in the 3rd quarter worth $161,000. Tidal Investments LLC acquired a new position in Redfin in the third quarter worth about $10,650,000. Geode Capital Management LLC increased its holdings in Redfin by 2.2% in the third 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. Y Intercept Hong Kong Ltd acquired a new stake in Redfin during the third quarter valued at approximately $174,000. Finally, XTX Topco Ltd bought a new position in Redfin during the 3rd quarter worth approximately $455,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

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.