Stifel Financial Corp Sells 38,107 Shares of Redfin Co. (NASDAQ:RDFN)

Stifel Financial Corp lessened its position in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 65.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,461 shares of the company's stock after selling 38,107 shares during the period. Stifel Financial Corp's holdings in Redfin were worth $161,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Redfin during the 4th quarter worth about $33,000. US Bancorp DE lifted 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 in the last quarter. Blue Trust Inc. lifted its holdings in Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock worth $46,000 after purchasing an additional 2,520 shares in the last quarter. AlphaQuest LLC lifted its holdings in Redfin by 87.8% during the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company's stock worth $56,000 after purchasing an additional 3,312 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its holdings in Redfin by 18,368.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 9,234 shares of the company's stock worth $73,000 after purchasing an additional 9,184 shares in the last quarter. Hedge funds and other institutional investors own 61.07% of the company's stock.

Redfin Stock Up 3.3%

Shares of Redfin stock traded up $0.33 during trading on Friday, hitting $10.35. 9,835,886 shares of the stock traded hands, compared to its average volume of 6,415,805. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -8.09 and a beta of 2.50. The firm's fifty day moving average is $9.58 and its 200-day moving average is $8.88. Redfin Co. has a 52 week low of $5.49 and a 52 week high of $15.29.

Redfin (NASDAQ:RDFN - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $220.89 million. The company's revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.57) EPS. On average, analysts forecast that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Christian John Taubman sold 16,209 shares of the 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 transaction, the insider now directly owns 74,616 shares in the company, valued at approximately $831,968.40. This represents a 17.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

RDFN has been the topic of a number of recent research reports. Zelman & Associates raised Redfin to a "strong-buy" rating in a report on Wednesday, March 5th. Susquehanna dropped their price objective on Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. B. Riley cut Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th. DA Davidson reaffirmed a "neutral" rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, February 19th. Finally, Gordon Haskett raised Redfin 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 given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Redfin has a consensus rating of "Hold" and an average price target of $10.45.

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.