Anthony Ray Kappus, the Chief Legal Officer of Redfin Corp (NASDAQ:RDFN), a real estate brokerage firm, has recently engaged in significant stock transactions, according to a new SEC filing. On May 20th and 21st, Kappus completed a series of stock sales totaling $61,384.
The transactions involved selling 8,816 shares of Redfin Corp at a weighted average price of $6.9629 per share. The sales were executed in multiple trades with prices ranging from $6.92 to $7.05, reflecting the weighted average price of all trades. This information comes from a footnote in the SEC filing, which also states that Kappus is willing to provide the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares traded at each separate price upon request.
In addition to the sales, Kappus also acquired shares through the exercise of restricted stock units (RSUs). These units convert into common stock on a one-for-one basis upon settlement. However, the filing indicates that the total value for these "M" transactions was $0, with a price of $0.0 per share.
Kappus also disposed of shares to cover tax liabilities associated with the vesting of RSUs, in transactions coded as "F" in the filing. These dispositions amounted to a total of $20,199 at a price of $7.11 per share.
The filing does not provide information on the specific reasons behind Kappus's stock transactions. However, it is not uncommon for executives to sell shares for personal financial planning, diversification, or other reasons unrelated to their outlook on the company.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's future performance. However, these transactions may not always be indicative of the company's operational health or future stock performance.
Redfin Corp's stock transactions by executives are regularly reported to the SEC and are publicly available for investors to review. The company's business address is listed as 1099 Stewart Street, Suite 600, Seattle, WA, with a business phone number of (206) 576-8610.
InvestingPro Insights
Amidst the recent stock transactions by Redfin Corp's (NASDAQ:RDFN) Chief Legal Officer Anthony Ray Kappus, investors and market watchers may find additional context in some key financial metrics and expert analyses. Redfin's market dynamics and stock performance can be further understood through the lens of InvestingPro data and insights.
According to InvestingPro, Redfin's market capitalization stands at a modest $774.17 million, reflecting the size of the company in the competitive real estate brokerage market. The company's revenue over the last twelve months as of Q1 2024 was reported at $988.07 million. Despite a quarterly revenue growth of 5.32% in Q1 2024, the overall revenue growth rate was down by 9.42%, indicating some challenges in expanding the top-line figures.
InvestingPro Tips suggest that Redfin's stock has been quite volatile, with significant price movements over the past week and a notable decline in stock price over the last five years. Analysts are not optimistic about the company's profitability for this year, with four analysts having revised their earnings estimates downwards for the upcoming period. This information could be particularly relevant for investors considering the recent insider stock sales and the broader financial health of the company.
For investors looking to delve deeper into Redfin's financials and stock performance, additional InvestingPro Tips are available. There are 12 more tips listed on InvestingPro, providing a comprehensive analysis of Redfin's financial health and market position. To access these insights, visit https://www.investing.com/pro/RDFN and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
While insider transactions like those of Mr. Kappus can offer some indication of individual perspectives, they are just one piece of the puzzle. InvestingPro's detailed metrics and expert tips provide a broader view of the company's financial landscape, helping investors make more informed decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.