Two Sigma Advisers LP lifted its position in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 124.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,149,900 shares of the company's stock after buying an additional 1,193,900 shares during the quarter. Two Sigma Advisers LP owned approximately 1.73% of Redfin worth $26,938,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of RDFN. Mather Group LLC. grew its holdings in shares of Redfin by 282.1% during the second quarter. Mather Group LLC. now owns 3,821 shares of the company's stock worth $25,000 after buying an additional 2,821 shares in the last quarter. Hollencrest Capital Management purchased a new stake in Redfin in the third quarter valued at approximately $25,000. Blue Trust Inc. grew its holdings in Redfin by 285.7% in the third quarter. Blue Trust Inc. now owns 3,302 shares of the company's stock valued at $41,000 after purchasing an additional 2,446 shares during the period. Quest Partners LLC purchased a new stake in Redfin in the third quarter valued at approximately $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Redfin in the third quarter valued at approximately $48,000. 61.07% of the stock is currently owned by hedge funds and other institutional investors.
Redfin Stock Up 1.3 %
Shares of NASDAQ RDFN traded up $0.13 during trading on Friday, reaching $9.80. 6,896,910 shares of the stock were exchanged, compared to its average volume of 6,159,535. The business's 50-day moving average price is $10.08 and its 200 day moving average price is $8.88. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.66 and a beta of 2.63.
Redfin (NASDAQ:RDFN - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.08). The firm had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts expect that Redfin Co. will post -1.25 earnings per share for the current fiscal year.
Insider Activity at Redfin
In related news, insider Anthony Ray Kappus sold 8,417 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total value of $70,955.31. Following the sale, the insider now directly owns 29,978 shares of the company's stock, valued at $252,714.54. This represents a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
RDFN has been the subject of a number of recent analyst reports. Wedbush boosted their target price on shares of Redfin from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Susquehanna boosted their target price on shares of Redfin from $7.00 to $10.00 and gave the company a "neutral" rating in a report on Monday, November 11th. DA Davidson reaffirmed a "neutral" rating and set a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on shares of Redfin from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group cut shares of Redfin from a "neutral" rating to a "sell" rating and lifted their price target for the company from $6.00 to $6.50 in a research report on Monday, November 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $8.98.
Get Our Latest Stock Report on RDFN
Redfin Company Profile
(
Free Report)
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.
See Also
Before you consider Redfin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Redfin wasn't on the list.
While Redfin currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
