Redfin Sees Unusually High Options Volume (NASDAQ:RDFN)

Redfin Co. (NASDAQ:RDFN - Get Free Report) was the recipient of some unusual options trading on Monday. Stock traders acquired 18,283 call options on the stock. This is an increase of approximately 134% compared to the typical daily volume of 7,812 call options.

Insider Activity

In related news, insider Christian John Taubman sold 7,916 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the sale, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Redfin news, insider Anna Stevens sold 10,851 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the sale, the insider now owns 15,477 shares in the company, valued at $104,934.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the sale, the insider now owns 52,117 shares of the company's stock, valued at $359,607.30. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Redfin by 11.3% in the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company's stock worth $127,623,000 after acquiring an additional 1,953,127 shares in the last quarter. Federated Hermes Inc. boosted its stake in Redfin by 2.4% in the 4th quarter. Federated Hermes Inc. now owns 1,497,912 shares of the company's stock worth $15,458,000 after purchasing an additional 35,735 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Redfin by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 885,705 shares of the company's stock worth $9,140,000 after purchasing an additional 29,618 shares during the last quarter. Trexquant Investment LP raised its holdings in shares of Redfin by 208.8% in the fourth quarter. Trexquant Investment LP now owns 617,880 shares of the company's stock worth $6,377,000 after buying an additional 417,811 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Redfin by 17.9% during the third quarter. Bank of New York Mellon Corp now owns 544,842 shares of the company's stock worth $3,836,000 after buying an additional 82,724 shares during the period. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Stock Up 12.0 %

Shares of RDFN stock traded up $0.86 during mid-day trading on Monday, hitting $8.00. 7,816,474 shares of the stock traded hands, compared to its average volume of 5,248,686. The stock's fifty day moving average is $6.15 and its two-hundred day moving average is $7.21. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.33 and a quick ratio of 1.33. Redfin has a 52-week low of $4.26 and a 52-week high of $17.68. The stock has a market cap of $955.76 million, a P/E ratio of -6.72 and a beta of 2.68.

Redfin (NASDAQ:RDFN - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.01. The company had revenue of $225.50 million during the quarter, compared to the consensus estimate of $217.79 million. Redfin had a negative net margin of 13.76% and a negative return on equity of 1,780.89%. Redfin's revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.93) earnings per share. Equities analysts predict that Redfin will post -1.14 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on RDFN. Needham & Company LLC reissued a "hold" rating on shares of Redfin in a research report on Wednesday, May 8th. DA Davidson increased their price objective on Redfin from $6.75 to $7.25 and gave the stock a "neutral" rating in a research note on Wednesday, May 8th. Stephens upgraded Redfin from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $8.00 to $9.00 in a report on Wednesday, May 8th. Citigroup lowered their target price on Redfin from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, May 8th. Finally, Wedbush reissued a "neutral" rating and set a $8.00 price target on shares of Redfin in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $8.08.

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.