Redfin Co. (NASDAQ:RDFN) Insider Christian John Taubman Sells 16,209 Shares

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the sale, the insider now directly owns 74,616 shares of the company’s stock, valued at $831,968.40. This represents a 17.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Redfin Trading Down 1.4 %

Shares of RDFN stock opened at $10.22 on Friday. The company has a market cap of $1.29 billion, a PE ratio of -7.98 and a beta of 2.90. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29. The business’s fifty day simple moving average is $8.67 and its 200-day simple moving average is $9.48.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Redfin during the fourth quarter worth about $27,000. Quest Partners LLC acquired a new stake in Redfin in the 3rd quarter worth approximately $47,000. R Squared Ltd purchased a new stake in Redfin during the 4th quarter worth approximately $33,000. US Bancorp DE increased its stake in Redfin by 48.3% during the 4th quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Redfin by 76.3% in the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after buying an additional 2,520 shares during the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on RDFN shares. Susquehanna reduced their price objective on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. DA Davidson restated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. Citigroup cut their target price on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Zelman & Associates raised shares of Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Redfin has a consensus rating of “Hold” and a consensus target price of $10.03.

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.