Redfin Corp (RDFN) Stake Raised by BlackRock Inc.

BlackRock Inc. grew its position in Redfin Corp (NASDAQ:RDFN) by 272.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,844,483 shares of the company’s stock after purchasing an additional 2,080,872 shares during the period. BlackRock Inc. owned about 3.44% of Redfin worth $64,941,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of RDFN. First Trust Advisors LP boosted its stake in shares of Redfin by 11.8% in the 4th quarter. First Trust Advisors LP now owns 68,967 shares of the company’s stock valued at $2,160,000 after purchasing an additional 7,288 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Redfin by 251.1% in the 4th quarter. Wells Fargo & Company MN now owns 22,108 shares of the company’s stock valued at $692,000 after purchasing an additional 15,811 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Redfin in the 4th quarter valued at $237,000. Bank of New York Mellon Corp boosted its stake in shares of Redfin by 13.0% in the 4th quarter. Bank of New York Mellon Corp now owns 37,489 shares of the company’s stock valued at $1,174,000 after purchasing an additional 4,308 shares in the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Redfin in the 4th quarter valued at $8,354,000. Institutional investors own 75.54% of the company’s stock.

RDFN has been the topic of several recent analyst reports. DA Davidson initiated coverage on shares of Redfin in a research note on Wednesday, April 4th. They issued a “buy” rating and a $28.00 target price on the stock. BidaskClub upgraded shares of Redfin from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Zacks Investment Research upgraded shares of Redfin from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a research note on Monday, June 18th. Finally, Zelman & Associates initiated coverage on shares of Redfin in a research note on Monday, June 25th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $25.92.

In other Redfin news, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $22.21, for a total transaction of $222,100.00. Following the completion of the sale, the insider now directly owns 269,649 shares of the company’s stock, valued at approximately $5,988,904.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bridget Frey sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $21.76, for a total value of $108,800.00. Following the sale, the insider now directly owns 40,546 shares of the company’s stock, valued at $882,280.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,990 shares of company stock worth $1,308,194. 8.80% of the stock is owned by corporate insiders.

Shares of NASDAQ RDFN opened at $22.96 on Friday. The stock has a market cap of $1.96 billion and a P/E ratio of -114.80. Redfin Corp has a 12-month low of $19.18 and a 12-month high of $33.49.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Thursday, May 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.44). The company had revenue of $79.90 million for the quarter, compared to analyst estimates of $77.15 million. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. analysts forecast that Redfin Corp will post -0.27 earnings per share for the current year.

About Redfin

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

Want to see what other hedge funds are holding RDFN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Redfin Corp (NASDAQ:RDFN).

Institutional Ownership by Quarter for Redfin (NASDAQ:RDFN)

Receive News & Ratings for Redfin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redfin and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply