On August 23, 2024, Bridget Frey, Chief Technology Officer at Redfin Corp (NASDAQ:RDFN), sold 17,039 shares of the company's stock. The transaction was reported in a recent SEC filing. With this sale, the insider now owns 442,914 shares of Redfin Corp stock.
Redfin Corp is a technology-enabled real estate brokerage offering a wide range of services to facilitate the buying, selling and renting of residential properties. The company uses technology to streamline the real estate transaction process, making it more convenient and less expensive for consumers.
Over the past year, Bridget Frey has sold a total of 42,954 shares but hasn't bought any shares in the company. This recent sale is part of a broader trend within Redfin Corporation, which has seen 18 insider sales and 1 insider purchase in the past year.
On the day of the sale, Redfin's shares were trading at $10, giving the company a market capitalization of approximately $1.37 billion. According to GF Value, Redfin's intrinsic value estimate is $7.14 per share, giving it a price-to-GF Value ratio of 1.4, indicating that the stock is significantly overvalued.
GF Value is determined by adjusting historical trading multiples such as price-to-earnings, price-to-sales, price-to-book and price-to-free cash flow multiples to a company's past performance and expected future business results.
Insider sale: Chief Technology Officer Bridget Frey sold 17,039 shares of Redfin Corporation (RDFN) stock.
Insider sale: Chief Technology Officer Bridget Frey sold 17,039 shares of Redfin Corporation (RDFN) stock.
This insider selling may be of interest to investors who track insider behavior as an indicator of a company's future performance and valuation alignment.
This article written by GuruFocus is intended to provide general insights and is not tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment guidance. It is not a recommendation to buy or sell stocks, nor does it take into account your individual investment objectives or financial situation. Our objective is to provide long-term, fundamental, data-driven analysis. Please note that our analysis may not incorporate the latest price-sensitive company announcements or qualitative information. GuruFocus has no position in the stocks mentioned herein.
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