Northern Trust Corp Has $9.03 Million Holdings in Redfin Co. (NASDAQ:RDFN)

Northern Trust Corp raised its holdings in Redfin Co. (NASDAQ:RDFN - Free Report) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,147,666 shares of the company's stock after acquiring an additional 113,466 shares during the quarter. Northern Trust Corp owned 0.93% of Redfin worth $9,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Redfin by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company's stock worth $4,855,000 after purchasing an additional 290,545 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Redfin in the 4th quarter worth about $1,157,000. Hsbc Holdings PLC increased its stake in Redfin by 106.8% in the 4th quarter. Hsbc Holdings PLC now owns 193,597 shares of the company's stock worth $1,541,000 after purchasing an additional 100,004 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Redfin by 57.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 270,340 shares of the company's stock worth $2,128,000 after purchasing an additional 99,078 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Redfin in the 4th quarter worth about $649,000. 61.07% of the stock is owned by institutional investors and hedge funds.

Redfin Stock Performance

Shares of NASDAQ RDFN traded down $0.69 during trading hours on Wednesday, hitting $9.57. 5,684,693 shares of the stock were exchanged, compared to its average volume of 6,423,142. The company has a market cap of $1.23 billion, a PE ratio of -7.48 and a beta of 2.50. The company's fifty day simple moving average is $9.55 and its two-hundred day simple moving average is $8.88. Redfin Co. has a 1-year low of $5.49 and a 1-year high of $15.29.

Redfin (NASDAQ:RDFN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) earnings per share 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 analyst estimates of $220.89 million. The firm's revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.57) EPS. As a group, sell-side analysts expect that Redfin Co. will post -1.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on RDFN. JPMorgan Chase & Co. increased their price objective on Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Susquehanna dropped their price objective on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Citigroup boosted their target price on Redfin from $7.30 to $9.20 and gave the company a "neutral" rating in a research note on Thursday, May 8th. B. Riley downgraded Redfin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 10th. Finally, Gordon Haskett upgraded Redfin to a "hold" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.45.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the sale, the insider now owns 74,616 shares of the company's stock, valued at approximately $831,968.40. This represents a 17.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by corporate insiders.

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.