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

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 16,209 shares of the business’s stock in a transaction on Friday, March 21st. The stock was 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. This trade represents a 17.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Redfin Stock Down 1.4 %

RDFN stock opened at $10.22 on Friday. The firm’s fifty day simple moving average is $8.67 and its two-hundred day simple moving average is $9.48. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -7.98 and a beta of 2.90. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29.

Hedge Funds Weigh In On Redfin

Several hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after buying an additional 92,023 shares during the period. Tidal Investments LLC bought a new stake in shares of Redfin during the 3rd quarter worth approximately $10,650,000. Ballentine Partners LLC purchased a new position in Redfin during the 4th quarter valued at $81,000. Geode Capital Management LLC grew its position in Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after acquiring an additional 66,018 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in Redfin in the fourth quarter worth $197,000. 61.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on RDFN shares. Piper Sandler upgraded shares of Redfin from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $4.00 to $12.50 in a research note on Tuesday, March 11th. Gordon Haskett upgraded Redfin to a “hold” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. raised their price target on Redfin from $7.00 to $12.50 and gave the company a “neutral” rating in a report on Monday. Citigroup decreased their price objective on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Redfin presently has a consensus rating of “Hold” and a consensus 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.