Redfin Co. (NASDAQ:RDFN) Insider Christian John Taubman Sells 3,632 Shares

Redfin Co. (NASDAQ:RDFN) insider Christian John Taubman sold 3,632 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $6.96, for a total transaction of $25,278.72. Following the sale, the insider now directly owns 57,274 shares of the company’s stock, valued at approximately $398,627.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Christian John Taubman also recently made the following trade(s):

• On Friday, March 1st, Christian John Taubman sold 7,916 shares of Redfin stock. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40.

Redfin Stock Down 0.8 %

RDFN opened at $6.43 on Thursday. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.33 and a quick ratio of 1.33. The company’s 50-day moving average is $6.23 and its 200 day moving average is $7.31. Redfin Co. has a fifty-two week low of $4.26 and a fifty-two week high of $17.68.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.01. The business had revenue of $225.50 million for the quarter, compared to analyst estimates of $217.79 million. Redfin had a negative net margin of 13.76% and a negative return on equity of 1,780.89%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.93) earnings per share. As a group, research analysts anticipate that Redfin Co. will post -1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stephens upgraded shares of Redfin from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $9.00 in a report on Wednesday, May 8th. Royal Bank of Canada reduced their price objective on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Redfin in a report on Wednesday, May 8th. Gordon Haskett cut shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price objective for the company. in a report on Thursday, February 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale purchased a new position in Redfin in the third quarter valued at about $27,000. Allspring Global Investments Holdings LLC boosted its stake in Redfin by 205.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock valued at $31,000 after acquiring an additional 3,101 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Redfin in the first quarter valued at about $58,000. Tower Research Capital LLC TRC boosted its stake in Redfin by 101.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,864 shares of the company’s stock valued at $91,000 after acquiring an additional 4,474 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in Redfin in the first quarter valued at about $66,000. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

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.