Point72 Asset Management L.P. acquired a new stake in shares of Redfin Co. (NASDAQ:RDFN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 129,300 shares of the company's stock, valued at approximately $1,018,000. Point72 Asset Management L.P. owned about 0.10% of Redfin as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of RDFN. JPMorgan Chase & Co. increased its position in Redfin by 89.0% during the fourth quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company's stock valued at $4,855,000 after acquiring an additional 290,545 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Redfin during the fourth quarter valued at $1,157,000. Northern Trust Corp boosted its stake in shares of Redfin by 11.0% during the fourth quarter. Northern Trust Corp now owns 1,147,666 shares of the company's stock valued at $9,032,000 after purchasing an additional 113,466 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Redfin by 106.8% during the fourth quarter. Hsbc Holdings PLC now owns 193,597 shares of the company's stock valued at $1,541,000 after purchasing an additional 100,004 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Redfin by 57.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 270,340 shares of the company's stock valued at $2,128,000 after purchasing an additional 99,078 shares during the period. Institutional investors own 61.07% of the company's stock.
Insider Activity at Redfin
In other Redfin news, insider Christian John Taubman sold 16,209 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 74,616 shares of the company's stock, valued at $831,968.40. This trade represents a 17.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. DA Davidson reissued a "neutral" rating and set a $7.25 target price on shares of Redfin in a research note on Wednesday, February 19th. Stephens cut their price objective on shares of Redfin from $12.50 to $11.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Susquehanna cut their price objective on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. B. Riley downgraded shares of Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th. Finally, Gordon Haskett upgraded Redfin to a "hold" rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.45.
Get Our Latest Stock Analysis on Redfin
Redfin Price Performance
NASDAQ RDFN traded up $0.12 during mid-day trading on Friday, hitting $9.90. The stock had a trading volume of 3,381,403 shares, compared to its average volume of 6,443,698. The firm's 50 day moving average is $9.49 and its 200 day moving average is $8.87. Redfin Co. has a twelve month low of $5.49 and a twelve month high of $15.29. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -7.73 and a beta of 2.50.
Redfin (NASDAQ:RDFN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The company had revenue of $221.03 million during the quarter, compared to analysts' expectations of $220.89 million. During the same period in the prior year, the company posted ($0.57) earnings per share. The business's revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts expect that Redfin Co. will post -1.25 earnings per share for the current year.
About Redfin
(
Free Report)
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.
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