Vanguard Group Inc. Acquires 192,162 Shares of Redfin Co. (NASDAQ:RDFN)

Vanguard Group Inc. lifted its position in Redfin Co. (NASDAQ:RDFN - Free Report) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,977,561 shares of the company's stock after purchasing an additional 192,162 shares during the period. Vanguard Group Inc. owned about 13.86% of Redfin worth $112,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Dark Forest Capital Management LP lifted its stake in Redfin by 342.4% in the third quarter. Dark Forest Capital Management LP now owns 205,033 shares of the company's stock worth $1,443,000 after acquiring an additional 158,690 shares during the period. Jump Financial LLC lifted its stake in Redfin by 19.8% in the third quarter. Jump Financial LLC now owns 372,548 shares of the company's stock worth $2,623,000 after acquiring an additional 61,559 shares during the period. Quantbot Technologies LP purchased a new stake in Redfin in the third quarter worth $914,000. Raymond James & Associates lifted its stake in Redfin by 152.1% in the third quarter. Raymond James & Associates now owns 109,264 shares of the company's stock worth $769,000 after acquiring an additional 65,915 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Redfin by 17.9% in the third quarter. Bank of New York Mellon Corp now owns 544,842 shares of the company's stock worth $3,836,000 after acquiring an additional 82,724 shares during the period. Institutional investors own 61.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RDFN shares. B. Riley started coverage on Redfin in a research report on Friday, December 8th. They set a "neutral" rating and a $8.00 price objective for the company. DA Davidson reissued a "neutral" rating and set a $6.75 price objective on shares of Redfin in a research report on Friday, March 22nd. Royal Bank of Canada lowered their price objective on Redfin from $10.00 to $9.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 28th. Wedbush reissued a "neutral" rating and set a $8.00 price objective on shares of Redfin in a research report on Wednesday, February 28th. Finally, Citigroup lowered their price objective on Redfin from $10.50 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, Redfin presently has an average rating of "Hold" and a consensus target price of $7.92.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the transaction, the insider now directly owns 52,117 shares of the company's stock, valued at approximately $359,607.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Anna Stevens sold 10,851 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the transaction, the insider now directly owns 15,477 shares of the company's stock, valued at approximately $104,934.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christian John Taubman sold 7,916 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the transaction, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

Redfin Stock Down 0.5 %

Shares of RDFN traded down $0.03 during trading hours on Thursday, hitting $6.14. The company had a trading volume of 4,463,887 shares, compared to its average volume of 5,373,539. The firm has a fifty day moving average price of $7.04 and a 200-day moving average price of $7.29. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market capitalization of $732.13 million, a price-to-earnings ratio of -5.25 and a beta of 2.66. Redfin Co. has a 52-week low of $4.26 and a 52-week high of $17.68.

Redfin (NASDAQ:RDFN - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The company had revenue of $218.08 million during the quarter, compared to the consensus estimate of $220.32 million. During the same period last year, the company earned ($0.83) EPS. Redfin's revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that Redfin Co. will post -1.31 EPS for the current fiscal year.

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.