Insider Selling: Redfin Co. (NASDAQ:RDFN) Insider Sells 16,209 Shares of Stock

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 16,209 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Redfin Stock Performance

Redfin stock opened at $10.48 on Wednesday. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The stock has a market cap of $1.32 billion, a PE ratio of -8.19 and a beta of 2.90. The stock has a 50-day moving average of $8.57 and a two-hundred day moving average of $9.47.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Citigroup cut their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a report on Wednesday, March 5th. DA Davidson reaffirmed a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. boosted their price target on Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Redfin currently has an average rating of “Hold” and a consensus target price of $10.03.

Hedge Funds Weigh In On Redfin

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Redfin by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after purchasing an additional 92,023 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Redfin during the third quarter valued at $10,650,000. Ballentine Partners LLC acquired a new position in shares of Redfin in the 4th quarter valued at $81,000. Geode Capital Management LLC raised its stake in Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after acquiring an additional 66,018 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in Redfin during the 4th quarter worth about $197,000. 61.07% of the stock is owned by hedge funds and other institutional investors.

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.