Tidal Investments LLC Sells 640,105 Shares of Redfin Co. (NASDAQ:RDFN)

Tidal Investments LLC cut its position in Redfin Co. (NASDAQ:RDFN - Free Report) by 75.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,895 shares of the company's stock after selling 640,105 shares during the quarter. Tidal Investments LLC owned about 0.17% of Redfin worth $1,652,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Redfin by 89.0% during the 4th 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 period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Redfin during the 4th quarter valued at $1,157,000. Point72 Asset Management L.P. bought a new stake in shares of Redfin during the 4th quarter valued at $1,018,000. Northern Trust Corp lifted its position in shares of Redfin by 11.0% during the 4th quarter. Northern Trust Corp now owns 1,147,666 shares of the company's stock valued at $9,032,000 after acquiring an additional 113,466 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of Redfin by 106.8% during the 4th quarter. Hsbc Holdings PLC now owns 193,597 shares of the company's stock valued at $1,541,000 after acquiring an additional 100,004 shares during the period. 61.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on RDFN. Zelman & Associates raised Redfin to a "strong-buy" rating in a report on Wednesday, March 5th. Susquehanna lowered their price target on Redfin from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Gordon Haskett raised Redfin to a "hold" rating in a report on Monday, March 10th. Piper Sandler raised Redfin from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $4.00 to $12.50 in a report on Tuesday, March 11th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Redfin in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $10.45.

Redfin Stock Up 0.0%

Shares of RDFN traded up $0.01 during trading hours on Thursday, hitting $10.10. The company had a trading volume of 1,840,034 shares, compared to its average volume of 6,438,010. The firm has a market cap of $1.29 billion, a P/E ratio of -7.89 and a beta of 2.50. The stock's 50 day moving average price is $9.43 and its 200 day moving average price is $8.86. 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 announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) 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 the consensus estimate of $220.89 million. During the same quarter in the previous year, the company posted ($0.57) EPS. Redfin's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts expect that Redfin Co. will post -1.25 EPS for the current fiscal year.

Insider Transactions at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

Redfin 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.