Two Sigma Advisers LP Boosts Position in Redfin Co. (NASDAQ:RDFN)

Two Sigma Advisers LP raised its position in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,524,100 shares of the company's stock after buying an additional 374,200 shares during the quarter. Two Sigma Advisers LP owned about 2.04% of Redfin worth $19,865,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Ballentine Partners LLC purchased a new position in shares of Redfin in the 4th quarter valued at approximately $81,000. Blueshift Asset Management LLC purchased a new position in shares of Redfin in the 4th quarter valued at approximately $197,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Redfin by 57.9% in the 4th 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 last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Redfin by 2.4% in 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. Finally, HighPoint Advisor Group LLC raised its position in shares of Redfin by 369.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 66,454 shares of the company's stock valued at $528,000 after purchasing an additional 52,307 shares during the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction on Friday, March 21st. The shares were sold at an average price of $11.15, for a total value of $180,730.35. Following the sale, the insider now owns 74,616 shares of the company's stock, valued at approximately $831,968.40. This trade represents a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

RDFN has been the subject of several research analyst reports. Stephens decreased their price objective on shares of Redfin from $12.50 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Royal Bank of Canada increased their price target on shares of Redfin from $8.00 to $12.50 and gave the stock a "sector perform" rating in a report on Tuesday, April 15th. Zelman & Associates upgraded shares of Redfin to a "strong-buy" rating in a report on Wednesday, March 5th. B. Riley downgraded shares of Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th. Finally, Piper Sandler upgraded shares of Redfin from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $4.00 to $12.50 in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Redfin presently has an average rating of "Hold" and a consensus price target of $10.45.

Redfin Stock Down 0.1%

Shares of NASDAQ:RDFN traded down $0.01 during trading on Tuesday, hitting $9.90. 1,453,240 shares of the stock traded hands, compared to its average volume of 6,424,545. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -7.75 and a beta of 2.50. The company has a fifty day moving average price of $9.47 and a two-hundred day moving average price of $8.84. 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 posted 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 for the quarter, compared to analysts' expectations of $220.89 million. Redfin's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted ($0.57) earnings per share. On average, equities research analysts predict that Redfin Co. will post -1.25 EPS for the current fiscal year.

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.