112,770 Shares in Redfin Corporation (NASDAQ:RDFN) Purchased by Lincoln Capital Corp

Lincoln Capital Corp acquired a new stake in shares of Redfin Corporation (NASDAQ:RDFN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 112,770 shares of the company's stock, valued at approximately $1,039,000. Lincoln Capital Corp owned 0.09% of Redfin at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in shares of Redfin in the fourth quarter valued at approximately $276,000. US Bancorp DE grew its stake in Redfin by 48.3% in the 4th quarter. US Bancorp DE now owns 5,522 shares of the company's stock valued at $43,000 after purchasing an additional 1,799 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Redfin by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company's stock valued at $8,042,000 after purchasing an additional 23,621 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Redfin during the 4th quarter worth $83,000. Finally, AlphaQuest LLC boosted its holdings in shares of Redfin by 87.8% in the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company's stock worth $56,000 after buying an additional 3,312 shares during the last quarter. Institutional investors own 61.07% of the company's stock.

Wall Street Analyst Weigh In

RDFN has been the subject of several research reports. 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 research note on Tuesday, April 15th. Piper Sandler raised shares of Redfin from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $4.00 to $12.50 in a report on Tuesday, March 11th. B. Riley downgraded Redfin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 10th. Citigroup lifted their price target on Redfin from $7.30 to $9.20 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Gordon Haskett upgraded Redfin to a "hold" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Redfin has a consensus rating of "Hold" and an average target price of $10.45.

Redfin Price Performance

NASDAQ:RDFN remained flat at $11.19 during trading hours on Wednesday. The company's fifty day moving average price is $10.14 and its 200-day moving average price is $9.12. Redfin Corporation has a one year low of $5.59 and a one year high of $15.29. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -7.31 and a beta of 2.38.

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

Redfin Company Profile

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.