Redfin Co. (NASDAQ:RDFN – Get Free Report) insider Anthony Ray Kappus sold 23,237 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $9.02, for a total value of $209,597.74. Following the completion of the sale, the insider now directly owns 15,477 shares in the company, valued at approximately $139,602.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Redfin Stock Down 1.2 %
Redfin stock traded down $0.11 during trading hours on Friday, hitting $9.41. The company had a trading volume of 2,304,008 shares, compared to its average volume of 3,670,586. The firm’s fifty day moving average is $12.27 and its 200-day moving average is $10.10. The firm has a market capitalization of $1.07 billion, a P/E ratio of -4.28 and a beta of 2.33. Redfin Co. has a fifty-two week low of $3.08 and a fifty-two week high of $17.68. The company has a debt-to-equity ratio of 87.86, a current ratio of 1.46 and a quick ratio of 1.46.
Redfin (NASDAQ:RDFN – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.07. Redfin had a negative net margin of 14.29% and a negative return on equity of 616.23%. The firm had revenue of $275.50 million for the quarter, compared to analyst estimates of $275.70 million. During the same quarter last year, the firm earned ($0.73) earnings per share. The company’s revenue for the quarter was down 54.6% on a year-over-year basis. On average, research analysts forecast that Redfin Co. will post -1.1 earnings per share for the current year.
Institutional Trading of Redfin
Large investors have recently made changes to their positions in the stock. Two Sigma Investments LP grew its position in shares of Redfin by 18.6% in the first quarter. Two Sigma Investments LP now owns 2,357,750 shares of the company’s stock valued at $21,361,000 after purchasing an additional 369,797 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Redfin by 4.9% in the second quarter. Geode Capital Management LLC now owns 2,352,574 shares of the company’s stock worth $29,219,000 after acquiring an additional 109,402 shares during the last quarter. Renaissance Technologies LLC increased its position in Redfin by 11.9% during the first quarter. Renaissance Technologies LLC now owns 2,174,800 shares of the company’s stock worth $19,704,000 after acquiring an additional 231,700 shares during the period. Two Sigma Advisers LP boosted its holdings in Redfin by 15.8% in the 1st quarter. Two Sigma Advisers LP now owns 2,137,300 shares of the company’s stock valued at $19,364,000 after purchasing an additional 291,400 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Redfin by 289.3% during the 1st quarter. Federated Hermes Inc. now owns 1,512,558 shares of the company’s stock worth $13,704,000 after purchasing an additional 1,124,013 shares during the period. Institutional investors own 78.59% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on RDFN shares. Jefferies Financial Group lifted their target price on Redfin from $11.00 to $15.00 and gave the stock a “hold” rating in a report on Tuesday, July 25th. DA Davidson dropped their target price on shares of Redfin from $10.00 to $8.50 in a report on Tuesday, August 8th. Oppenheimer raised shares of Redfin from an “underperform” rating to a “market perform” rating in a research note on Tuesday, August 15th. They noted that the move was a valuation call. Citigroup lifted their price target on shares of Redfin from $8.60 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, August 7th. Finally, Gordon Haskett downgraded Redfin from a “hold” rating to an “underperform” rating and set a $10.50 price objective for the company. in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.44.
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.