Redfin Corp (NASDAQ:RDFN) insider Adam Wiener sold 5,000 shares of Redfin stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the transaction, the insider now directly owns 226,672 shares in the company, valued at $4,533,440. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Adam Wiener also recently made the following trade(s):
- On Monday, October 21st, Adam Wiener sold 5,000 shares of Redfin stock. The shares were sold at an average price of $18.28, for a total value of $91,400.00.
- On Monday, September 23rd, Adam Wiener sold 5,000 shares of Redfin stock. The shares were sold at an average price of $17.18, for a total value of $85,900.00.
RDFN stock traded up $0.14 during trading on Friday, hitting $20.49. The company had a trading volume of 21,318 shares, compared to its average volume of 1,209,081. The company has a fifty day moving average price of $17.54 and a two-hundred day moving average price of $17.72. The company has a current ratio of 4.81, a quick ratio of 3.68 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.88 billion, a P/E ratio of -41.67 and a beta of 1.38. Redfin Corp has a fifty-two week low of $13.56 and a fifty-two week high of $23.47.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The business had revenue of $238.68 million for the quarter, compared to analyst estimates of $229.94 million. Redfin had a negative return on equity of 25.71% and a negative net margin of 12.71%. Redfin’s quarterly revenue was up 70.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, analysts expect that Redfin Corp will post -0.9 earnings per share for the current year.
RDFN has been the topic of a number of research reports. DA Davidson set a $17.50 price objective on Redfin and gave the company a “hold” rating in a research report on Tuesday, October 15th. ValuEngine cut Redfin from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Bank of America boosted their price objective on Redfin from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Stephens set a $24.00 price objective on Redfin and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, Zacks Investment Research upgraded Redfin from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Redfin currently has a consensus rating of “Buy” and an average target price of $23.18.
A number of hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its stake in Redfin by 21.7% in the second quarter. Baillie Gifford & Co. now owns 5,779,516 shares of the company’s stock worth $103,915,000 after purchasing an additional 1,032,134 shares in the last quarter. Vanguard Group Inc. boosted its stake in Redfin by 7.2% in the second quarter. Vanguard Group Inc. now owns 10,440,413 shares of the company’s stock worth $187,718,000 after purchasing an additional 704,587 shares in the last quarter. BlackRock Inc. boosted its stake in Redfin by 9.9% in the second quarter. BlackRock Inc. now owns 5,618,562 shares of the company’s stock worth $101,023,000 after purchasing an additional 504,808 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Redfin by 57.9% in the second quarter. Handelsbanken Fonder AB now owns 995,000 shares of the company’s stock worth $17,890,000 after purchasing an additional 364,799 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in Redfin in the second quarter worth $6,461,000. 88.75% of the stock is currently owned by institutional investors and hedge funds.
Redfin Company Profile
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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