Redfin Co. (NASDAQ:RDFN) CFO Sells $84,200.00 in Stock

Redfin Co. (NASDAQ:RDFNGet Free Report) CFO Christopher John Nielsen sold 10,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $8.42, for a total transaction of $84,200.00. Following the sale, the chief financial officer now directly owns 425,094 shares of the company’s stock, valued at approximately $3,579,291.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Redfin Price Performance

Shares of Redfin stock traded down $0.15 on Monday, reaching $8.18. The company’s stock had a trading volume of 1,726,046 shares, compared to its average volume of 3,587,043. Redfin Co. has a 52-week low of $3.08 and a 52-week high of $17.68. The company has a market capitalization of $932.27 million, a P/E ratio of -3.79 and a beta of 2.41. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 87.86. The stock has a 50-day moving average price of $11.56 and a 200-day moving average price of $10.20.

Redfin (NASDAQ:RDFNGet Free Report) last released its earnings results on Thursday, August 3rd. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $275.50 million during the quarter, compared to analysts’ expectations of $275.70 million. During the same quarter in the previous year, the company earned ($0.73) earnings per share. The company’s quarterly revenue was down 54.6% on a year-over-year basis. Analysts expect that Redfin Co. will post -1.1 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RDFN. AlphaCrest Capital Management LLC purchased a new stake in shares of Redfin during the first quarter worth $436,000. Bank of Montreal Can boosted its position in Redfin by 207.7% during the first quarter. Bank of Montreal Can now owns 18,905 shares of the company’s stock worth $357,000 after acquiring an additional 12,762 shares during the last quarter. MetLife Investment Management LLC grew its stake in Redfin by 55.8% during the 1st quarter. MetLife Investment Management LLC now owns 55,652 shares of the company’s stock valued at $1,004,000 after acquiring an additional 19,937 shares in the last quarter. Rhumbline Advisers grew its stake in Redfin by 1.9% during the 1st quarter. Rhumbline Advisers now owns 113,151 shares of the company’s stock valued at $2,041,000 after acquiring an additional 2,083 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Redfin by 2.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 41,236 shares of the company’s stock valued at $744,000 after acquiring an additional 1,000 shares during the last quarter. 78.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on RDFN. Jefferies Financial Group lifted their target price on shares of Redfin from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Gordon Haskett lowered shares of Redfin from a “hold” rating to an “underperform” rating and set a $10.50 price objective on the stock. in a report on Wednesday, July 19th. DA Davidson reduced their target price on Redfin from $10.00 to $8.50 in a research note on Tuesday, August 8th. Citigroup boosted their price target on Redfin from $8.60 to $11.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Finally, Oppenheimer raised Redfin from an “underperform” rating to a “market perform” rating in a report on Tuesday, August 15th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Redfin has a consensus rating of “Hold” and an average target price of $7.44.

Read Our Latest Report on RDFN

Redfin Company Profile

(Get Free Report)

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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