Anna Stevens, the Chief Human Resources Officer of Redfin Corp (NASDAQ:RDFN), has recently sold company stock valued at approximately $80,990, according to a new SEC filing. Stevens executed the sale on May 21, with prices ranging from $6.92 to $7.05, averaging at $6.9627 per share.
The transactions disclosed include the sale of 11,632 shares of common stock, which brought the total holdings of the executive to zero shares following the transaction. This move comes alongside other financial activities involving the acquisition and disposal of shares through different transaction types.
Additionally, the filing revealed that Stevens had disposed of shares to cover tax obligations, totaling $35,180 at a price of $7.11 per share. These disposals were related to 4,948 shares of common stock.
While the sale of stock is often a point of interest for investors, it should be noted that executives may sell stock for various reasons, ranging from personal financial planning to diversification strategies.
Redfin Corp, headquartered in Seattle, operates in the real estate industry, providing services as a real estate agent and manager for others. The company's stock performance and executive transactions are closely watched by investors who look to such activities for insights into the company's health and leadership confidence.
InvestingPro Insights
As Redfin Corp (NASDAQ:RDFN) navigates the volatile real estate market, recent metrics and analysis from InvestingPro provide a deeper look into the company's financial health and stock performance. With a market capitalization of $774.17 million, Redfin's valuation reflects the challenges it faces. The company's price-to-earnings (P/E) ratio stands at -5.45, underscoring its current lack of profitability. This is further emphasized by the adjusted P/E ratio for the last twelve months as of Q1 2024, which is at -4.35.
The revenue for the last twelve months as of Q1 2024 was reported at $988.07 million, demonstrating a decrease of 9.42% compared to the previous period. Despite this downturn, Redfin has managed a quarterly revenue growth of 5.32% in Q1 2024, suggesting some resilience in its core business operations.
An InvestingPro Tip highlights that Redfin's stock has experienced significant price volatility, which is reflected in a 13.49% drop in the one-week price total return as of a recent date in 2024. Another tip indicates that analysts have revised their earnings downwards for the upcoming period, which could impact investor sentiment. There are 13 additional tips available on InvestingPro that could provide further insights into Redfin's future performance.
For investors seeking a comprehensive analysis of Redfin's stock and future outlook, additional InvestingPro Tips can be found at https://www.investing.com/pro/RDFN. Use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, offering valuable insights to help shape investment strategies.
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