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

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

Redfin Price Performance

RDFN traded down $0.30 during trading on Tuesday, reaching $10.48. The company had a trading volume of 3,050,798 shares, compared to its average volume of 6,015,597. The business’s fifty day moving average price is $8.50 and its 200 day moving average price is $9.46. Redfin Co. has a 12 month low of $5.10 and a 12 month high of $15.29. The company has a market cap of $1.32 billion, a P/E ratio of -8.19 and a beta of 2.90.

Hedge Funds Weigh In On Redfin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDFN. Charles Schwab Investment Management Inc. lifted its holdings in shares of Redfin by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after purchasing an additional 92,023 shares in the last quarter. Tidal Investments LLC acquired a new stake in Redfin in the 3rd quarter valued at approximately $10,650,000. Ballentine Partners LLC bought a new stake in Redfin in the 4th quarter valued at approximately $81,000. Geode Capital Management LLC boosted its position in Redfin by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after acquiring an additional 66,018 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Redfin by 476.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock worth $10,018,000 after acquiring an additional 660,872 shares in the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research note on Monday. Gordon Haskett upgraded shares of Redfin to a “hold” rating in a research report on Monday, March 10th. Zelman & Associates raised Redfin to a “strong-buy” rating in a research note on Wednesday, March 5th. B. Riley lowered Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. Finally, DA Davidson restated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.