Redfin Co. (NASDAQ:RDFN) Insider Sells $33,596.00 in Stock

Redfin Co. (NASDAQ:RDFN – Get Your Free Report) Christian John Taubman sold 3,632 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the sale, the insider now directly owns 71,720 shares in the company, valued at $663,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink.

Redfin Stocks 18.9%

Shares of NASDAQ:RDFN opened at $11.08 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48, and a debt-to-equity ratio of 295.91. The stock has a fifty day simple moving average of $7.13 and a two hundred day simple moving average of $6.75. Redfin Co. has a 12-month low of $4.26 and a 12-month high of $11.66. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -9.45 and a beta of 2.65.

Redfin (NASDAQ:RDFN – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.03. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The firm had revenue of $295.20 million during the quarter, compared to the consensus estimate of $291.59 million. During the same period last year, the company earned ($0.25) earnings per share. The company’s revenue grew 7.2% year-over-year. On average, research analysts anticipate that Redfin Co. will post -1.14 earnings per share for the current fiscal year.

Analysts on Wall Street are forecasting an increase

RDFN has been the subject of several analyst research reports. Wedbush restated a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a report on Wednesday, August 7th. Susquehanna decreased their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Stephens raised shares of Redfin from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $9.00 in a research report on Wednesday, May 8th. . Finally, Citigroup cut their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.18, according to MarketBeat.com.

Get the latest report on Redfin

Institutional inputs and outputs

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management LP purchased a new position in Redfin in the second quarter valued at about $159,000. Algert Global LLC acquired a new position in shares of Redfin in the second quarter valued at $72,000. Susquehanna Fundamental Investments LLC boosted its holdings in shares of Redfin by 98.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 89,244 shares of the company’s stock valued at $536,000 after buying an additional 44,377 shares during the last quarter. Scientech Research LLC boosted its holdings in Redfin by 162.7% in the second quarter. Scientech Research LLC now owns 84,562 shares of the company’s stock worth $508,000 after purchasing an additional 52,367 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Redfin by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,971 shares of the company’s stock worth $270,000 after buying another 3,371 shares during that period. Institutional investors own 61.07% of the company’s shares.

About Redfin

(Get a free report)

Redfin Corporation operates as a residential real estate brokerage in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in buying or selling a home. It also offers title and settlement services; and initiates and sells mortgage loans.

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