Redfin Co. (NASDAQ:RDFN - Get Free Report) was the target of some unusual options trading activity on Friday. Investors acquired 51,185 call options on the company. This represents an increase of 168% compared to the average volume of 19,098 call options.
Insider Activity
In related news, insider Christian John Taubman sold 3,632 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the transaction, the insider now owns 71,720 shares in the company, valued at $663,410. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.40% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of RDFN. Creative Planning grew its stake in Redfin by 8.1% in the 3rd quarter. Creative Planning now owns 15,826 shares of the company's stock valued at $198,000 after buying an additional 1,181 shares in the last quarter. Arizona State Retirement System increased its stake in Redfin by 5.4% in the second quarter. Arizona State Retirement System now owns 33,381 shares of the company's stock valued at $201,000 after acquiring an additional 1,710 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Redfin by 9.8% during the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company's stock worth $132,000 after acquiring an additional 1,766 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Redfin during the third quarter valued at about $25,000. Finally, Financial Advocates Investment Management boosted its stake in shares of Redfin by 21.6% during the third quarter. Financial Advocates Investment Management now owns 11,815 shares of the company's stock valued at $148,000 after purchasing an additional 2,100 shares during the period. Institutional investors and hedge funds own 61.07% of the company's stock.
Redfin Trading Down 15.6 %
RDFN traded down $1.79 on Friday, hitting $9.67. 17,944,114 shares of the stock were exchanged, compared to its average volume of 5,569,940. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29. The business has a 50-day moving average of $11.16 and a two-hundred day moving average of $8.46.
Redfin (NASDAQ:RDFN - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.03. The company had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. Redfin's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.25) earnings per share. Analysts predict that Redfin will post -1.13 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have recently commented on RDFN. Susquehanna cut their target price on shares of Redfin from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Redfin from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. B. Riley increased their price objective on Redfin from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Jefferies Financial Group upped their price target on shares of Redfin from $7.50 to $11.50 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Redfin in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $8.83.
View Our Latest Report on Redfin
Redfin Company Profile
(
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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.
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