Numerai GP LLC Makes New $215,000 Investment in Redfin Co. (NASDAQ:RDFN)

Numerai GP LLC bought a new position in Redfin Co. (NASDAQ:RDFN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,273 shares of the company's stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its position in shares of Redfin by 3.3% in the fourth quarter. Cerity Partners LLC now owns 37,285 shares of the company's stock worth $293,000 after buying an additional 1,189 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Redfin by 10.7% in the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company's stock worth $125,000 after buying an additional 1,529 shares during the last quarter. US Bancorp DE raised its position in shares of Redfin by 48.3% during the 4th quarter. US Bancorp DE now owns 5,522 shares of the company's stock valued at $43,000 after buying an additional 1,799 shares in the last quarter. Blue Trust Inc. grew its position in Redfin by 76.3% in the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock worth $46,000 after acquiring an additional 2,520 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Redfin by 4.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,377 shares of the company's stock valued at $530,000 after purchasing an additional 3,091 shares during the period. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Stock Performance

RDFN stock traded up $0.14 during midday trading on Tuesday, reaching $10.26. The stock had a trading volume of 4,528,139 shares, compared to its average volume of 6,406,470. The stock has a market cap of $1.31 billion, a PE ratio of -8.02 and a beta of 2.50. The firm has a fifty day simple moving average of $9.57 and a two-hundred day simple moving average of $8.87. Redfin Co. has a 52-week low of $5.49 and a 52-week high of $15.29.

Redfin (NASDAQ:RDFN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.04). The company had revenue of $221.03 million during the quarter, compared to the consensus estimate of $220.89 million. Redfin's revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned ($0.57) EPS. On average, sell-side analysts predict that Redfin Co. will post -1.25 EPS for the current fiscal year.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the sale, the insider now directly owns 74,616 shares of the company's stock, valued at $831,968.40. The trade was a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup increased their price target on Redfin from $7.30 to $9.20 and gave the company a "neutral" rating in a report on Thursday, May 8th. DA Davidson restated a "neutral" rating and issued a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. Piper Sandler raised Redfin from an "underweight" rating to a "neutral" rating and upped their target price for the company from $4.00 to $12.50 in a research note on Tuesday, March 11th. Needham & Company LLC reiterated a "hold" rating on shares of Redfin in a report on Tuesday, March 11th. Finally, Royal Bank of Canada increased their price target on Redfin from $8.00 to $12.50 and gave the stock a "sector perform" rating in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.45.

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.