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 stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the transaction, the insider now owns 74,616 shares in the company, valued at $831,968.40. This trade represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Redfin Price Performance

NASDAQ:RDFN opened at $10.37 on Thursday. The business’s fifty day moving average price is $8.62 and its 200 day moving average price is $9.48. The firm has a market capitalization of $1.31 billion, a PE ratio of -8.10 and a beta of 2.90. Redfin Co. has a 12 month low of $5.10 and a 12 month high of $15.29.

Analyst Ratings Changes

Several equities analysts recently issued reports on RDFN shares. JPMorgan Chase & Co. increased their target price on Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research note on Monday. Piper Sandler raised shares of Redfin from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $4.00 to $12.50 in a research report on Tuesday, March 11th. Susquehanna dropped their price objective on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. Finally, Gordon Haskett upgraded shares of Redfin to a “hold” rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Redfin currently has a consensus rating of “Hold” and a consensus target price of $10.03.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in 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 purchased a new position in shares of Redfin in the 3rd quarter valued at $10,650,000. Ballentine Partners LLC acquired a new stake in Redfin during the 4th quarter worth $81,000. Geode Capital Management LLC raised its stake 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 in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in Redfin in the fourth quarter valued at $197,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

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.