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 company’s stock in a transaction dated 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 sale, the insider now directly owns 73,466 shares of the company’s stock, valued at $620,053.04. The trade was a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Redfin Trading Down 1.4 %

NASDAQ:RDFN opened at $8.20 on Friday. The business’s fifty day moving average price is $9.39 and its 200 day moving average price is $9.11. 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 Co. has a 1-year low of $5.10 and a 1-year high of $15.29.

Redfin (NASDAQ:RDFN) last issued its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The firm had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same quarter last year, the company earned ($0.17) EPS. Equities analysts forecast that Redfin Co. will post -1.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and upped their price target for the company from $6.00 to $6.50 in a report on Monday, November 18th. Jefferies Financial Group raised their price objective on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson reaffirmed a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Tuesday, November 19th. Finally, Wedbush upped their target price on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Two equities research 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 a consensus rating of “Hold” and a consensus price target of $8.98.

Institutional Investors Weigh In On Redfin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new position in shares of Redfin during the 3rd quarter valued at $25,000. Blue Trust Inc. boosted its position in Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after purchasing an additional 2,446 shares during the last quarter. Quest Partners LLC purchased a new position in Redfin in the third quarter valued at about $47,000. DekaBank Deutsche Girozentrale acquired a new position in Redfin in the 3rd quarter worth about $48,000. Finally, Algert Global LLC purchased a new stake in shares of Redfin during the 2nd quarter worth about $72,000. 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.