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

Redfin Co. (NASDAQ:RDFN - Get Free Report) insider Christian John Taubman sold 16,209 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the sale, the insider now directly owns 74,616 shares of the company's stock, valued at approximately $831,968.40. This trade represents a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Redfin Price Performance

Shares of NASDAQ:RDFN traded down $0.01 during trading on Friday, reaching $10.21. 9,447,871 shares of the company were exchanged, compared to its average volume of 6,080,207. The firm has a market capitalization of $1.29 billion, a PE ratio of -7.98 and a beta of 2.90. The business's fifty day simple moving average is $8.72 and its 200-day simple moving average is $9.47. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29.

Analyst Ratings Changes

Several research analysts recently commented on the company. Gordon Haskett upgraded Redfin to a "hold" rating in a research report on Monday, March 10th. Needham & Company LLC reissued a "hold" rating on shares of Redfin in a research report on Tuesday, March 11th. B. Riley downgraded Redfin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. boosted their price objective on shares of Redfin from $7.00 to $12.50 and gave the company a "neutral" rating in a research report on Monday, March 24th. Finally, Susquehanna reduced their target price on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $10.03.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Redfin by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company's stock worth $12,508,000 after buying an additional 92,023 shares in the last quarter. Tidal Investments LLC bought a new position in Redfin during the 3rd quarter worth about $10,650,000. Ballentine Partners LLC purchased a new position in Redfin during the 4th quarter valued at about $81,000. Geode Capital Management LLC raised its holdings in shares of Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company's stock valued at $37,884,000 after purchasing an additional 66,018 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in Redfin during the fourth quarter valued at approximately $197,000. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

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.