Redfin Co. (NASDAQ:RDFN) Insider Anthony Ray Kappus Sells 8,417 Shares of Stock

Redfin Co. (NASDAQ:RDFN) insider Anthony Ray Kappus sold 8,417 shares of Redfin 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 transaction, the insider now owns 29,978 shares in the company, valued at $252,714.54. This represents a 21.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Redfin Stock Up 12.3 %

Shares of RDFN opened at $9.16 on Friday. The company has a 50-day simple moving average of $10.78 and a 200-day simple moving average of $8.70. Redfin Co. has a 52 week low of $5.10 and a 52 week high of $15.29.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The firm had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, research analysts anticipate that Redfin Co. will post -1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Susquehanna raised their price objective on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Jefferies Financial Group increased their target price on shares of Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson restated a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.98.

Hedge Funds Weigh In On Redfin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management bought a new stake in Redfin in the third quarter valued at about $25,000. Blue Trust Inc. grew its stake in shares of Redfin by 285.7% in the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after purchasing an additional 2,446 shares during the period. Quest Partners LLC acquired a new position in shares of Redfin in the 3rd quarter worth approximately $47,000. Mather Group LLC. lifted its position in shares of Redfin by 282.1% during the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after buying an additional 2,821 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Redfin during the 3rd quarter worth approximately $48,000. 61.07% of the stock is owned by 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.