RFG Advisory LLC lessened its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 9.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 8,611 shares of the company’s stock after selling 875 shares during the quarter. RFG Advisory LLC’s holdings in Redfin were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of RDFN. First Trust Advisors LP bought a new stake in shares of Redfin during the first quarter worth approximately $521,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Redfin during the first quarter worth approximately $697,000. Truist Financial Corp bought a new stake in shares of Redfin during the third quarter worth approximately $227,000. Land & Buildings Investment Management LLC boosted its holdings in shares of Redfin by 37.4% during the third quarter. Land & Buildings Investment Management LLC now owns 283,860 shares of the company’s stock worth $14,173,000 after acquiring an additional 77,240 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of Redfin during the third quarter worth approximately $285,000. Institutional investors own 83.82% of the company’s stock.
Shares of NASDAQ:RDFN opened at $63.90 on Friday. The company has a fifty day moving average of $67.52 and a 200-day moving average of $65.14. The company has a market capitalization of $6.59 billion, a PE ratio of -127.80 and a beta of 1.96. Redfin Co. has a 52-week low of $17.57 and a 52-week high of $98.44.
Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Tuesday, February 23rd. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. The business had revenue of $244.52 million during the quarter, compared to the consensus estimate of $233.11 million. Redfin had a negative return on equity of 11.80% and a negative net margin of 4.61%. Sell-side analysts expect that Redfin Co. will post -0.35 earnings per share for the current fiscal year.
In other Redfin news, insider Adam Wiener sold 6,500 shares of the stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $75.43, for a total transaction of $490,295.00. Following the completion of the sale, the insider now directly owns 297,072 shares in the company, valued at approximately $22,408,140.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn Kelman sold 30,000 shares of the stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $66.39, for a total value of $1,991,700.00. Following the sale, the chief executive officer now owns 1,569,293 shares of the company’s stock, valued at $104,185,362.27. The disclosure for this sale can be found here. Insiders sold 64,350 shares of company stock valued at $4,340,988 over the last 90 days. 8.20% of the stock is currently owned by company insiders.
RDFN has been the subject of several recent research reports. Piper Sandler boosted their price target on Redfin from $73.00 to $99.00 and gave the company an “overweight” rating in a research note on Wednesday, March 3rd. Truist boosted their price target on Redfin from $84.00 to $102.00 in a research note on Tuesday, February 23rd. Evercore ISI initiated coverage on Redfin in a research note on Tuesday, April 13th. They issued an “in-line” rating and a $75.00 price target for the company. The Goldman Sachs Group upgraded Redfin from a “sell” rating to a “neutral” rating and boosted their price target for the company from $41.00 to $78.00 in a research note on Friday, February 5th. Finally, DA Davidson boosted their price target on Redfin from $70.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 3rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $62.06.
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; originates and sells mortgages; and buys and sells homes.
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