Penserra Capital Management LLC Acquires 1,356 Shares of Redfin Co. (NASDAQ:RDFN)

Penserra Capital Management LLC lifted its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 24.0% during the 1st quarter, Holdings Channel reports. The firm owned 7,006 shares of the company’s stock after purchasing an additional 1,356 shares during the quarter. Penserra Capital Management LLC’s holdings in Redfin were worth $466,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Parallel Advisors LLC boosted its position in shares of Redfin by 21.5% during the 1st quarter. Parallel Advisors LLC now owns 1,123 shares of the company’s stock valued at $75,000 after purchasing an additional 199 shares in the last quarter. New York State Teachers Retirement System raised its stake in Redfin by 2.4% during the 1st quarter. New York State Teachers Retirement System now owns 8,400 shares of the company’s stock worth $559,000 after buying an additional 200 shares during the period. Trustcore Financial Services LLC raised its stake in Redfin by 62.5% during the 1st quarter. Trustcore Financial Services LLC now owns 650 shares of the company’s stock worth $43,000 after buying an additional 250 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Redfin by 3.1% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 9,664 shares of the company’s stock worth $663,000 after buying an additional 294 shares during the period. Finally, Prudential Financial Inc. raised its stake in Redfin by 3.8% during the 1st quarter. Prudential Financial Inc. now owns 8,485 shares of the company’s stock worth $565,000 after buying an additional 310 shares during the period. Institutional investors own 84.27% of the company’s stock.

In other news, CEO Glenn Kelman sold 30,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,569,293 shares of the company’s stock, valued at $104,185,362.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher John Nielsen sold 4,500 shares of the firm’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $66.23, for a total value of $298,035.00. Following the completion of the transaction, the chief financial officer now directly owns 24,237 shares of the company’s stock, valued at $1,605,216.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 233,533 shares of company stock valued at $13,390,812. 6.10% of the stock is owned by corporate insiders.

Shares of RDFN opened at $63.30 on Friday. The firm’s 50 day simple moving average is $59.72. Redfin Co. has a 12 month low of $35.05 and a 12 month high of $98.44. The stock has a market capitalization of $6.59 billion, a P/E ratio of -1,582.50 and a beta of 1.88. The company has a quick ratio of 6.77, a current ratio of 7.18 and a debt-to-equity ratio of 3.31.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Wednesday, May 5th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.04). Redfin had a net margin of 0.60% and a return on equity of 1.37%. The firm had revenue of $268.32 million for the quarter, compared to the consensus estimate of $253.68 million. Sell-side analysts anticipate that Redfin Co. will post -0.6 EPS for the current year.

A number of research analysts recently weighed in on the company. TheStreet downgraded Redfin from a “c-” rating to a “d+” rating in a research note on Friday, May 28th. Wedbush dropped their price target on Redfin from $94.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 6th. DA Davidson increased their price objective on Redfin from $70.00 to $92.00 and gave the stock a “neutral” rating in a research note on Thursday, February 25th. Needham & Company LLC initiated coverage on Redfin in a research note on Monday, May 3rd. They issued a “hold” rating for the company. Finally, Evercore ISI initiated coverage on Redfin in a research note on Monday, April 5th. They issued an “in-line” rating and a $75.00 price objective for the company. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $61.50.

Redfin Company Profile

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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Institutional Ownership by Quarter for Redfin (NASDAQ:RDFN)

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