Redfin Co. (NASDAQ:RDFN) CFO Christopher John Nielsen Sells 4,500 Shares

Redfin Co. (NASDAQ:RDFN) CFO Christopher John Nielsen sold 4,500 shares of Redfin stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $56.97, for a total transaction of $256,365.00. Following the transaction, the chief financial officer now directly owns 28,477 shares in the company, valued at approximately $1,622,334.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Christopher John Nielsen also recently made the following trade(s):

  • On Wednesday, May 5th, Christopher John Nielsen sold 4,500 shares of Redfin stock. The shares were sold at an average price of $66.23, for a total transaction of $298,035.00.

Shares of RDFN opened at $59.91 on Friday. The stock has a fifty day simple moving average of $61.12. Redfin Co. has a fifty-two week low of $31.02 and a fifty-two week high of $98.44. The company has a market capitalization of $6.23 billion, a PE ratio of -1,497.75 and a beta of 1.87. The company has a debt-to-equity ratio of 3.31, a current ratio of 7.18 and a quick ratio of 6.77.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Wednesday, May 5th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.04). Redfin had a return on equity of 1.37% and a net margin of 0.60%. Analysts anticipate that Redfin Co. will post -0.52 earnings per share for the current year.

Several equities analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Redfin in a report on Monday, April 5th. They set an “in-line” rating and a $75.00 price target on the stock. They noted that the move was a valuation call. Wedbush lowered their price target on shares of Redfin from $94.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 6th. Truist boosted their target price on shares of Redfin from $84.00 to $102.00 in a report on Tuesday, February 23rd. Zacks Investment Research downgraded shares of Redfin from a “hold” rating to a “sell” rating in a report on Tuesday, May 11th. Finally, TheStreet downgraded shares of Redfin from a “c-” rating to a “d+” rating in a report on Friday, May 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $61.50.

Hedge funds have recently bought and sold shares of the business. Alta Wealth Advisors LLC bought a new position in Redfin during the fourth quarter valued at $405,000. Victory Capital Management Inc. increased its position in Redfin by 29.2% during the fourth quarter. Victory Capital Management Inc. now owns 30,207 shares of the company’s stock valued at $2,073,000 after acquiring an additional 6,823 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Redfin by 37.7% during the first quarter. Commonwealth Equity Services LLC now owns 14,163 shares of the company’s stock valued at $943,000 after acquiring an additional 3,879 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Redfin during the fourth quarter valued at $6,781,000. Finally, Jennison Associates LLC bought a new position in Redfin during the fourth quarter valued at $626,000. Institutional investors and hedge funds own 84.27% of the company’s stock.

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; originates and sells mortgages; and buys and sells homes.

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