Redfin Target of Unusually High Options Trading (NASDAQ:RDFN)

Redfin Co. (NASDAQ:RDFN) saw some unusual options trading activity on Friday. Investors purchased 51,185 call options on the company. This represents an increase of 168% compared to the typical daily volume of 19,098 call options.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RDFN shares. Susquehanna lowered their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Wedbush lifted their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, B. Riley boosted their price objective on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.83.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the transaction, the insider now owns 71,720 shares of the company’s stock, valued at $663,410. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redfin

Hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management purchased a new position in Redfin during the 3rd quarter valued at $25,000. Blue Trust Inc. boosted its stake in shares of 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 period. Quest Partners LLC purchased a new stake in shares of Redfin during the third quarter valued at $47,000. Mather Group LLC. grew its holdings in shares of Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after purchasing an additional 2,821 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Redfin in the 3rd quarter worth about $48,000. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Price Performance

Redfin stock opened at $9.67 on Friday. The firm has a market capitalization of $1.18 billion, a P/E ratio of -8.26 and a beta of 2.70. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The company’s 50-day moving average is $11.17 and its 200 day moving average is $8.52.

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.