Redfin Co. (NASDAQ:RDFN) Insider Christian John Taubman Sells 16,209 Shares of 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 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 approximately $831,968.40. The trade was a 17.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Redfin Stock Down 2.8 %

Shares of NASDAQ:RDFN opened at $10.48 on Wednesday. The firm has a fifty day simple moving average of $8.57 and a two-hundred day simple moving average of $9.47. Redfin Co. has a 52 week low of $5.10 and a 52 week high of $15.29. The stock has a market capitalization of $1.32 billion, a P/E ratio of -8.19 and a beta of 2.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. bought a new stake in shares of Redfin in the 4th quarter valued at approximately $40,109,000. Geode Capital Management LLC raised its holdings in Redfin by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 3,079,813 shares of the company’s stock valued at $24,243,000 after buying an additional 56,865 shares during the period. Two Sigma Advisers LP lifted its position in Redfin by 17.4% in the fourth quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock worth $19,865,000 after buying an additional 374,200 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Redfin by 11.0% during the 4th quarter. Northern Trust Corp now owns 1,147,666 shares of the company’s stock worth $9,032,000 after purchasing an additional 113,466 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Redfin by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock valued at $8,042,000 after buying an additional 23,621 shares during the period. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on RDFN shares. JPMorgan Chase & Co. upped their price target on Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research report on Monday. Citigroup decreased their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Susquehanna cut their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Zelman & Associates raised Redfin to a “strong-buy” rating in a 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.