Insider Selling: Redfin Corp (NASDAQ:RDFN) Insider Sells $580,000.00 in Stock

Redfin Corp (NASDAQ:RDFN) insider Adam Wiener sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $23.20, for a total transaction of $580,000.00. Following the completion of the sale, the insider now owns 197,842 shares of the company’s stock, valued at $4,589,934.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Adam Wiener also recently made the following trade(s):

  • On Wednesday, December 4th, Adam Wiener sold 35,000 shares of Redfin stock. The shares were sold at an average price of $19.94, for a total transaction of $697,900.00.
  • On Monday, November 18th, Adam Wiener sold 10,000 shares of Redfin stock. The shares were sold at an average price of $20.95, for a total transaction of $209,500.00.
  • On Friday, November 8th, Adam Wiener sold 5,000 shares of Redfin stock. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00.
  • On Monday, October 21st, Adam Wiener sold 5,000 shares of Redfin stock. The shares were sold at an average price of $18.28, for a total transaction of $91,400.00.

Shares of RDFN opened at $23.52 on Monday. Redfin Corp has a 12 month low of $14.70 and a 12 month high of $24.37. The firm’s 50 day moving average is $21.29 and its 200-day moving average is $18.69. The stock has a market capitalization of $2.23 billion, a PE ratio of -24.76 and a beta of 1.45. The company has a current ratio of 4.81, a quick ratio of 3.68 and a debt-to-equity ratio of 0.52.

Redfin (NASDAQ:RDFN) last announced its earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. Redfin had a negative net margin of 12.71% and a negative return on equity of 25.71%. The company had revenue of $238.68 million for the quarter, compared to analysts’ expectations of $229.94 million. During the same period last year, the firm earned $0.14 earnings per share. The business’s revenue for the quarter was up 70.2% on a year-over-year basis. Equities research analysts predict that Redfin Corp will post -0.89 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in RDFN. Point72 Asset Management L.P. increased its holdings in shares of Redfin by 824.3% during the third quarter. Point72 Asset Management L.P. now owns 1,191,900 shares of the company’s stock worth $20,072,000 after purchasing an additional 1,062,947 shares during the period. Vanguard Group Inc. increased its holdings in shares of Redfin by 7.2% during the second quarter. Vanguard Group Inc. now owns 10,440,413 shares of the company’s stock worth $187,718,000 after purchasing an additional 704,587 shares during the period. BlackRock Inc. increased its holdings in shares of Redfin by 9.9% during the second quarter. BlackRock Inc. now owns 5,618,562 shares of the company’s stock worth $101,023,000 after purchasing an additional 504,808 shares during the period. Philadelphia Financial Management of San Francisco LLC increased its holdings in shares of Redfin by 95.6% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,005,249 shares of the company’s stock worth $16,928,000 after purchasing an additional 491,242 shares during the period. Finally, Nuveen Asset Management LLC bought a new position in shares of Redfin during the second quarter worth approximately $6,461,000. 91.41% of the stock is currently owned by institutional investors.

Several research analysts have weighed in on RDFN shares. SunTrust Banks reissued a “buy” rating and issued a $24.00 price target on shares of Redfin in a report on Monday, November 4th. Zacks Investment Research raised shares of Redfin from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, January 8th. ValuEngine cut shares of Redfin from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Wedbush reissued an “outperform” rating and issued a $26.00 price target on shares of Redfin in a report on Thursday. Finally, BidaskClub raised shares of Redfin from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Redfin currently has a consensus rating of “Buy” and a consensus target price of $23.71.

Redfin Company Profile

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

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