Baillie Gifford & Co. Has $225,000 Stock Position in Redfin Co. (NASDAQ:RDFN)

Baillie Gifford & Co. lessened its holdings in Redfin Co. (NASDAQ:RDFN - Free Report) by 99.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,792 shares of the company's stock after selling 8,673,546 shares during the period. Baillie Gifford & Co.'s holdings in Redfin were worth $225,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RDFN. DekaBank Deutsche Girozentrale acquired a new stake in shares of Redfin during the third quarter worth $27,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Redfin during the third quarter worth $28,000. Point72 Middle East FZE acquired a new stake in shares of Redfin during the fourth quarter worth $41,000. Guggenheim Capital LLC acquired a new stake in Redfin in the 3rd quarter valued at $60,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Redfin by 41.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,442 shares of the company's stock valued at $74,000 after buying an additional 3,041 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company's stock.

Insider Activity at Redfin

In other news, insider Christian John Taubman sold 7,916 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the sale, the insider now directly owns 52,117 shares in the company, valued at approximately $359,607.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Christian John Taubman sold 7,916 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the sale, the insider now directly owns 52,117 shares in the company, valued at approximately $359,607.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anna Stevens sold 10,851 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the sale, the insider now owns 15,477 shares of the company's stock, valued at $104,934.06. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RDFN shares. Wedbush reissued a "neutral" rating and issued a $8.00 price objective on shares of Redfin in a report on Wednesday, February 28th. DA Davidson reissued a "neutral" rating and issued a $6.75 price objective on shares of Redfin in a report on Friday, March 22nd. Gordon Haskett downgraded shares of Redfin from a "hold" rating to an "underperform" rating and set a $5.50 price objective for the company. in a report on Thursday, February 29th. Citigroup dropped their target price on shares of Redfin from $10.50 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, February 29th. Finally, Royal Bank of Canada dropped their target price on shares of Redfin from $10.00 to $9.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $7.92.

Redfin Stock Down 3.4 %

Shares of RDFN traded down $0.21 during trading hours on Friday, reaching $5.99. 4,237,623 shares of the stock traded hands, compared to its average volume of 5,269,361. The company has a market cap of $714.25 million, a price-to-earnings ratio of -5.12 and a beta of 2.66. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91. Redfin Co. has a 52 week low of $4.26 and a 52 week high of $17.68. The stock has a fifty day simple moving average of $6.76 and a 200 day simple moving average of $7.23.

Redfin (NASDAQ:RDFN - Get Free Report) last announced 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. The business had revenue of $218.08 million for the quarter, compared to analyst estimates of $220.32 million. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.83) earnings per share. On average, equities analysts forecast that Redfin Co. will post -1.31 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.