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 the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 29,978 shares of the company’s stock, valued at $252,714.54. This represents a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Redfin Trading Up 12.3 %

NASDAQ:RDFN traded up $1.00 on Friday, hitting $9.16. The company’s stock had a trading volume of 8,415,176 shares, compared to its average volume of 5,576,855. The firm has a market capitalization of $1.14 billion, a P/E ratio of -7.16 and a beta of 2.70. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The stock has a fifty day moving average of $10.78 and a two-hundred day moving average of $8.70.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $280.21 million. During the same period in the previous year, the business earned ($0.17) EPS. As a group, sell-side analysts anticipate that Redfin Co. will post -1.23 EPS for the current year.

Hedge Funds Weigh In On Redfin

A number of hedge funds have recently added to or reduced their stakes in RDFN. Geode Capital Management LLC grew its position in 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 acquiring an additional 66,018 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Redfin in the third quarter worth $174,000. XTX Topco Ltd bought a new stake in shares of Redfin in the 3rd quarter valued at about $455,000. Zacks Investment Management bought a new position in shares of Redfin during the third quarter worth about $2,108,000. Finally, Two Sigma Advisers LP increased its position in Redfin by 124.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock valued at $26,938,000 after purchasing an additional 1,193,900 shares during the period. Institutional investors own 61.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RDFN. Jefferies Financial Group increased their price objective on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. B. Riley increased their target price on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and upped their target price for the stock from $6.00 to $6.50 in a research report on Monday. Wedbush lifted their price objective on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Redfin 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.