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 firm’s stock in a transaction dated 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Redfin Price Performance

RDFN traded down $0.30 during trading on Tuesday, hitting $10.48. The stock had a trading volume of 3,050,798 shares, compared to its average volume of 6,015,597. The company has a 50 day moving average price of $8.50 and a 200-day moving average price of $9.46. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -8.19 and a beta of 2.90.

Institutional Trading of Redfin

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

Analyst Ratings Changes

RDFN has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Redfin from $7.00 to $12.50 and gave the company a “neutral” rating in a research report on Monday. DA Davidson restated a “neutral” rating and set a $7.25 target price on shares of Redfin in a report on Wednesday, February 19th. Piper Sandler raised shares of Redfin from an “underweight” rating to a “neutral” rating and upped their target price for the company from $4.00 to $12.50 in a report on Tuesday, March 11th. Susquehanna reduced their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Gordon Haskett upgraded Redfin to a “hold” rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company 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.