Redfin Co. (NASDAQ:RDFN) Shares Sold by Bayesian Capital Management LP

Bayesian Capital Management LP reduced its holdings in Redfin Co. (NASDAQ:RDFN - Free Report) by 57.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,700 shares of the company's stock after selling 58,800 shares during the quarter. Bayesian Capital Management LP's holdings in Redfin were worth $344,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hennessy Advisors Inc. bought a new position in Redfin in the 4th quarter worth approximately $40,109,000. JPMorgan Chase & Co. grew its holdings in shares of Redfin by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company's stock valued at $4,855,000 after buying an additional 290,545 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Redfin in the 4th quarter valued at $1,157,000. Northern Trust Corp grew its holdings in shares of Redfin by 11.0% in the 4th quarter. Northern Trust Corp now owns 1,147,666 shares of the company's stock valued at $9,032,000 after buying an additional 113,466 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of Redfin by 106.8% in the 4th quarter. Hsbc Holdings PLC now owns 193,597 shares of the company's stock valued at $1,541,000 after buying an additional 100,004 shares during the period. 61.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the sale, the insider now directly owns 74,616 shares in the company, valued at approximately $831,968.40. The trade was a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.40% of the company's stock.

Redfin Trading Up 4.4%

Shares of RDFN traded up $0.40 during trading hours on Tuesday, reaching $9.58. 4,402,702 shares of the company traded hands, compared to its average volume of 6,354,414. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -7.48 and a beta of 2.50. Redfin Co. has a 12-month low of $5.49 and a 12-month high of $15.29. The stock's fifty day moving average price is $9.40 and its 200 day moving average price is $8.87.

Redfin (NASDAQ:RDFN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The firm had revenue of $221.03 million for the quarter, compared to analysts' expectations of $220.89 million. During the same quarter in the prior year, the business posted ($0.57) EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts forecast that Redfin Co. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RDFN. Zelman & Associates upgraded shares of Redfin to a "strong-buy" rating in a research note on Wednesday, March 5th. Stephens dropped their price target on shares of Redfin from $12.50 to $11.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. B. Riley cut shares of Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th. Finally, DA Davidson reiterated a "neutral" rating and set a $7.25 price objective on shares of Redfin in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.