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

Redfin Co. (NASDAQ:RDFN) insider Anthony Ray Kappus sold 8,417 shares of Redfin stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the sale, the insider now owns 29,978 shares in the company, valued at $252,714.54. This trade represents a 21.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Redfin Stock Up 12.3 %

Shares of Redfin stock opened at $9.16 on Friday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -7.16 and a beta of 2.70. Redfin Co. has a 52-week low of $5.10 and a 52-week high of $15.29. The company’s 50-day simple moving average is $10.78 and its 200-day simple moving average is $8.72.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Redfin by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after purchasing an additional 1,953,127 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Redfin by 2.2% in the third 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 during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after buying an additional 445,486 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Redfin by 124.9% during the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after buying an additional 1,193,900 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Redfin by 210.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock worth $13,687,000 after buying an additional 740,759 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

Wall Street Analyst Weigh In

RDFN has been the topic of several research analyst reports. Jefferies Financial Group lifted their price target on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price 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 reiterated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. Wedbush raised their price objective on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.98.

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.