SG Americas Securities LLC Sells 32,467 Shares of Redfin Corporation (NASDAQ:RDFN)

SG Americas Securities LLC reduced its stake in Redfin Corporation (NASDAQ:RDFN - Free Report) by 44.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,148 shares of the company's stock after selling 32,467 shares during the period. SG Americas Securities LLC's holdings in Redfin were worth $370,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Redfin by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 3,079,813 shares of the company's stock valued at $24,243,000 after buying an additional 56,865 shares during the period. Two Sigma Advisers LP boosted its holdings in Redfin by 17.4% in the fourth quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company's stock worth $19,865,000 after acquiring an additional 374,200 shares in the last quarter. Northern Trust Corp grew its stake in Redfin by 11.0% in the fourth 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. Charles Schwab Investment Management Inc. increased its holdings in shares of Redfin by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company's stock valued at $8,042,000 after acquiring an additional 23,621 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Redfin by 89.0% during the fourth 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 during the period. Institutional investors and hedge funds own 61.07% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. B. Riley downgraded shares of Redfin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 10th. Royal Bank Of Canada boosted their target price on shares of Redfin from $8.00 to $12.50 and gave the stock a "sector perform" rating in a research report on Tuesday, April 15th. Piper Sandler upgraded shares of 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Redfin in a research report on Tuesday, March 11th. Finally, Benchmark reissued a "mixed" rating on shares of Redfin in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.45.

Redfin Stock Performance

Shares of Redfin stock traded down $0.17 during mid-day trading on Friday, hitting $11.23. 8,576,660 shares of the stock were exchanged, compared to its average volume of 6,688,328. Redfin Corporation has a 12 month low of $5.49 and a 12 month high of $15.29. The company has a 50-day simple moving average of $9.98 and a 200 day simple moving average of $9.08. The company has a market capitalization of $1.44 billion, a P/E ratio of -7.34 and a beta of 2.38.

Redfin (NASDAQ:RDFN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) 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 analyst estimates of $220.89 million. During the same quarter in the prior year, the business earned ($0.57) EPS. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts predict that Redfin Corporation will post -1.25 EPS for the current 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.