New York State Common Retirement Fund Sells 3,770,661 Shares of Redfin Co. (NASDAQ:RDFN)

New York State Common Retirement Fund lessened its stake in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 98.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 44,407 shares of the company's stock after selling 3,770,661 shares during the period. New York State Common Retirement Fund's holdings in Redfin were worth $458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Redfin during the third quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in Redfin by 41.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,442 shares of the company's stock valued at $74,000 after purchasing an additional 3,041 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of Redfin in the third quarter valued at $82,000. Seven Eight Capital LP acquired a new stake in shares of Redfin in the third quarter worth $86,000. Finally, Numerai GP LLC purchased a new position in shares of Redfin during the third quarter valued at $126,000. Institutional investors and hedge funds own 61.07% of the company's stock.

Redfin Stock Down 2.7 %

Shares of RDFN traded down $0.21 during trading hours on Thursday, hitting $7.65. 3,942,269 shares of the company were exchanged, compared to its average volume of 5,256,805. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $913.95 million, a PE ratio of -6.43 and a beta of 2.68. The firm's 50 day moving average is $6.24 and its 200-day moving average is $7.24. 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 announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.76%. The company had revenue of $225.50 million for the quarter, compared to the consensus estimate of $217.79 million. During the same quarter last year, the company posted ($0.93) earnings per share. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Redfin Co. will post -1.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Anna Stevens sold 10,851 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the sale, the insider now directly owns 15,477 shares of the company's stock, valued at $104,934.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the insider now directly owns 52,117 shares in the company, valued at approximately $359,607.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anna Stevens sold 10,851 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the sale, the insider now owns 15,477 shares in the company, valued at $104,934.06. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RDFN shares. Needham & Company LLC reissued a "hold" rating on shares of Redfin in a research note on Thursday. Wedbush restated a "neutral" rating and set a $8.00 price target on shares of Redfin in a report on Wednesday, May 8th. DA Davidson upped their price objective on shares of Redfin from $6.75 to $7.25 and gave the company a "neutral" rating in a research note on Wednesday, May 8th. Royal Bank of Canada cut 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. Finally, Gordon Haskett cut shares of Redfin from a "hold" rating to an "underperform" rating and set a $5.50 price target on the stock. in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.08.

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.