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

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 16,333 shares of the firm’s stock in a transaction that occurred 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 owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. The trade was a 18.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Redfin Stock Down 1.4 %

Shares of NASDAQ:RDFN opened at $8.20 on Monday. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The stock’s 50 day moving average is $9.39 and its 200-day moving average is $9.13. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.41 and a beta of 2.63.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data 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 business had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter last year, the firm posted ($0.17) EPS. Equities research analysts anticipate that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RDFN. B. Riley boosted their target price on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, September 30th. Susquehanna boosted their price objective on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. The Goldman Sachs Group downgraded Redfin from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $6.00 to $6.50 in a report on Monday, November 18th. DA Davidson restated a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.98.

Hedge Funds Weigh In On Redfin

Several large investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new stake in Redfin during the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its holdings in Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after buying an additional 2,446 shares in the last quarter. Quest Partners LLC bought a new stake in Redfin during the third quarter worth $47,000. DekaBank Deutsche Girozentrale purchased a new stake in Redfin in the 3rd quarter valued at $48,000. Finally, Algert Global LLC bought a new position in Redfin during the 2nd quarter valued at $72,000. Institutional investors own 61.07% of the company’s stock.

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.