Redfin Co. (NASDAQ:RDFN - Get Free Report) saw unusually large options trading activity on Wednesday. Investors bought 21,825 call options on the company. This represents an increase of approximately 50% compared to the average daily volume of 14,522 call options.
Redfin Stock Up 3.7 %
RDFN traded up $0.32 during midday trading on Friday, reaching $8.87. 4,243,069 shares of the company's stock were exchanged, compared to its average volume of 4,061,664. The business has a 50-day simple moving average of $8.21 and a two-hundred day simple moving average of $9.41. Redfin has a one year low of $5.10 and a one year high of $15.29.
Insiders Place Their Bets
In other news, insider Christian John Taubman sold 16,333 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the transaction, the insider now directly owns 73,466 shares of the company's stock, valued at $620,053.04. This trade represents a 18.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anthony Ray Kappus sold 8,417 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total value of $70,955.31. Following the sale, the insider now directly owns 29,978 shares in the company, valued at approximately $252,714.54. The trade was a 21.92 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.
Institutional Investors Weigh In On Redfin
A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in Redfin by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,971 shares of the company's stock worth $270,000 after purchasing an additional 3,371 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Redfin in the 3rd quarter valued at $616,000. CWM LLC raised its position in shares of Redfin by 45.6% during the third quarter. CWM LLC now owns 8,725 shares of the company's stock worth $109,000 after acquiring an additional 2,734 shares during the last quarter. Creative Planning lifted its stake in shares of Redfin by 8.1% during the third quarter. Creative Planning now owns 15,826 shares of the company's stock valued at $198,000 after acquiring an additional 1,181 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Redfin by 285.7% in the third quarter. Blue Trust Inc. now owns 3,302 shares of the company's stock valued at $41,000 after acquiring an additional 2,446 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently weighed in on RDFN shares. Susquehanna raised their target price on Redfin from $7.00 to $10.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of Redfin from $7.00 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. DA Davidson restated a "neutral" rating and set a $7.25 price objective on shares of Redfin in a research report on Tuesday, November 19th. Citigroup dropped their target price on Redfin from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Finally, Wedbush boosted their price target on shares of Redfin from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $9.16.
Get Our Latest Research Report on Redfin
About Redfin
(
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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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