Tidal Investments LLC reduced its position in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 75.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,895 shares of the company's stock after selling 640,105 shares during the period. Tidal Investments LLC owned approximately 0.17% of Redfin worth $1,652,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC boosted its position in Redfin by 10.7% during the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company's stock worth $125,000 after purchasing an additional 1,529 shares in the last quarter. Ballentine Partners LLC acquired a new position in Redfin in the 4th quarter valued at about $81,000. SG Americas Securities LLC lifted its holdings in Redfin by 47.7% in the 4th quarter. SG Americas Securities LLC now owns 72,615 shares of the company's stock valued at $571,000 after purchasing an additional 23,441 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock worth $46,000 after purchasing an additional 2,520 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its holdings in shares of Redfin by 35.6% during the fourth quarter. Perigon Wealth Management LLC now owns 102,836 shares of the company's stock worth $796,000 after buying an additional 26,972 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. DA Davidson restated a "neutral" rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Gordon Haskett raised Redfin to a "hold" rating in a research report on Monday, March 10th. Stephens dropped their target price on 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Redfin from $7.00 to $12.50 and gave the company a "neutral" rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.45.
View Our Latest Analysis on RDFN
Insider Activity
In other 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 transaction of $180,730.35. Following the transaction, the insider now directly owns 74,616 shares of the company's stock, valued at approximately $831,968.40. This trade represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.40% of the company's stock.
Redfin Stock Up 3.0%
Shares of Redfin stock traded up $0.30 during trading hours on Tuesday, hitting $10.20. The company's stock had a trading volume of 6,149,150 shares, compared to its average volume of 6,442,522. The business has a fifty day moving average of $9.47 and a 200 day moving average of $8.84. Redfin Co. has a 1-year low of $5.49 and a 1-year high of $15.29. The company has a market capitalization of $1.31 billion, a PE ratio of -7.97 and a beta of 2.50.
Redfin (NASDAQ:RDFN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.04). The business 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.57) EPS. On average, sell-side analysts anticipate that Redfin Co. will post -1.25 earnings per share for the current fiscal 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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