Investors Buy Large Volume of Call Options on Redfin (NASDAQ:RDFN)

Redfin Co. (NASDAQ:RDFN) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 21,825 call options on the stock. This is an increase of approximately 50% compared to the average volume of 14,522 call options.

Analyst Ratings Changes

A number of brokerages recently weighed in on RDFN. Citigroup lowered their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and increased their price target for the company from $6.00 to $6.50 in a research report on Monday, November 18th. DA Davidson restated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Susquehanna upped their price target on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.16.

Insider Buying and Selling at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the transaction, the insider now owns 29,978 shares of the company’s stock, valued at approximately $252,714.54. The trade was a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total transaction of $137,850.52. Following the transaction, the insider now directly owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. This represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

A number of institutional investors have recently bought and sold shares of RDFN. Creative Planning boosted its position in shares of Redfin by 8.1% during the 3rd quarter. Creative Planning now owns 15,826 shares of the company’s stock worth $198,000 after acquiring an additional 1,181 shares in the last quarter. Cerity Partners LLC grew its position in Redfin by 3.3% in the 4th quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock valued at $293,000 after purchasing an additional 1,189 shares during the period. Merit Financial Group LLC lifted its holdings in shares of Redfin by 10.7% in the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock valued at $125,000 after purchasing an additional 1,529 shares in the last quarter. US Bancorp DE boosted its stake in shares of Redfin by 48.3% in the 4th quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after buying an additional 1,799 shares during the last quarter. Finally, Hollencrest Capital Management bought a new stake in shares of Redfin in the 3rd quarter worth approximately $25,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Trading Down 1.0 %

Redfin stock opened at $8.55 on Friday. The company’s 50-day moving average is $8.23 and its two-hundred day moving average is $9.40. The company has a market cap of $1.06 billion, a PE ratio of -6.68 and a beta of 2.66. Redfin has a 1 year low of $5.10 and a 1 year high of $15.29.

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.