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 the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the transaction, the insider now directly owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. This represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Redfin Stock Down 1.4 %

Shares of Redfin stock opened at $8.20 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.41 and a beta of 2.63. The company has a 50-day simple moving average of $9.39 and a two-hundred day simple moving average of $9.11. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29.

Redfin (NASDAQ:RDFN) last announced 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 firm had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same period in the previous year, the business earned ($0.17) EPS. On average, sell-side analysts anticipate that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RDFN has been the topic of a number of analyst reports. The Goldman Sachs Group cut shares of Redfin from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $6.00 to $6.50 in a report on Monday, November 18th. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Tuesday, November 19th. Susquehanna boosted their price objective on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Wedbush raised their target price on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.98.

Institutional Trading of Redfin

Several large investors have recently modified their holdings of the stock. Franklin Resources Inc. bought a new position in Redfin in the third quarter worth approximately $161,000. Tidal Investments LLC acquired a new position in shares of Redfin during the third quarter worth approximately $10,650,000. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 66,018 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Redfin in the 3rd quarter valued at $174,000. Finally, XTX Topco Ltd bought a new stake in Redfin during the 3rd quarter valued at $455,000. Institutional investors and hedge funds 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.