Voloridge Investment Management LLC Has $1.29 Million Holdings in Redfin Co. (NASDAQ:RDFN)

Voloridge Investment Management LLC lessened its position in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 84.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 164,447 shares of the company's stock after selling 922,018 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.13% of Redfin worth $1,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Two Sigma Advisers LP lifted its holdings in shares of Redfin by 17.4% in the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company's stock worth $19,865,000 after purchasing an additional 374,200 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 buying an additional 290,545 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Redfin during the 4th quarter valued at about $1,157,000. Point72 Asset Management L.P. purchased a new position in shares of Redfin during the fourth quarter worth about $1,018,000. Finally, Northern Trust Corp grew its holdings 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 worth $9,032,000 after purchasing an additional 113,466 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company's stock.

Redfin Price Performance

Shares of RDFN traded down $0.25 during midday trading on Friday, reaching $10.01. 4,632,878 shares of the stock were exchanged, compared to its average volume of 6,471,850. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -7.82 and a beta of 2.50. Redfin Co. has a twelve month low of $5.49 and a twelve month high of $15.29. The business's 50-day moving average price is $9.41 and its 200 day moving average price is $8.87.

Redfin (NASDAQ:RDFN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The firm had revenue of $221.03 million during the quarter, compared to analyst estimates of $220.89 million. Redfin's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.57) earnings per share. As a group, equities research analysts expect that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on RDFN. Susquehanna lowered their price objective on Redfin from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Zelman & Associates raised Redfin to a "strong-buy" rating in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Redfin in a research report on Tuesday, March 11th. Finally, Gordon Haskett raised Redfin to a "hold" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Redfin has an average rating of "Hold" and a consensus target price of $10.45.

Insiders Place Their Bets

In other news, insider Christian John Taubman sold 16,209 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the sale, the insider now directly owns 74,616 shares in the company, valued at $831,968.40. This trade represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.