Redfin Co. (NASDAQ:RDFN) Holdings Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 106.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,597 shares of the company's stock after purchasing an additional 100,004 shares during the quarter. Hsbc Holdings PLC owned 0.16% of Redfin worth $1,541,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RDFN. Cerity Partners LLC grew its stake in shares of Redfin by 3.3% during the fourth quarter. Cerity Partners LLC now owns 37,285 shares of the company's stock valued at $293,000 after acquiring an additional 1,189 shares in the last quarter. Merit Financial Group LLC grew its stake in Redfin by 10.7% during the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company's stock valued at $125,000 after purchasing an additional 1,529 shares in the last quarter. US Bancorp DE increased its holdings in Redfin by 48.3% during the 4th quarter. US Bancorp DE now owns 5,522 shares of the company's stock worth $43,000 after purchasing an additional 1,799 shares during the last quarter. Blue Trust Inc. raised its position in shares of Redfin by 76.3% in the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock valued at $46,000 after purchasing an additional 2,520 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Redfin by 87.8% during the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company's stock valued at $56,000 after buying an additional 3,312 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company's stock.

Insider Activity

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the business's stock in a transaction dated 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 directly owns 74,616 shares in the company, valued at approximately $831,968.40. The trade was a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RDFN. JPMorgan Chase & Co. lifted their price target on shares of Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Gordon Haskett raised shares of Redfin to a "hold" rating in a research report on Monday, March 10th. Zelman & Associates raised shares of Redfin to a "strong-buy" rating in a research report on Wednesday, March 5th. Piper Sandler raised Redfin from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $4.00 to $12.50 in a report on Tuesday, March 11th. Finally, B. Riley downgraded Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued 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, the company presently has a consensus rating of "Hold" and an average price target of $10.25.

Redfin Stock Down 2.1 %

Redfin stock traded down $0.19 during mid-day trading on Wednesday, hitting $8.91. 908,531 shares of the company's stock traded hands, compared to its average volume of 6,279,847. Redfin Co. has a one year low of $5.49 and a one year high of $15.29. The company has a market cap of $1.14 billion, a PE ratio of -6.99 and a beta of 2.50. The firm has a 50 day moving average price of $9.19 and a 200 day moving average price of $8.92.

Redfin (NASDAQ:RDFN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $221.03 million for the quarter, compared to analyst estimates of $220.89 million. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.57) earnings per share. On average, analysts expect that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

Redfin Company 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.