Nisa Investment Advisors LLC Sells 2,210 Shares of Redfin Co. (NASDAQ:RDFN)

Nisa Investment Advisors LLC lowered its stake in shares of Redfin Co. (NASDAQ:RDFN) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 98,000 shares of the company’s stock after selling 2,210 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Redfin were worth $1,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in Redfin by 477.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,943,100 shares of the company’s stock worth $8,239,000 after buying an additional 1,606,800 shares during the period. Norges Bank bought a new stake in shares of Redfin in the 4th quarter worth about $3,832,000. Two Sigma Advisers LP boosted its stake in shares of Redfin by 59.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,106,800 shares of the company’s stock worth $6,464,000 after purchasing an additional 413,700 shares during the period. Two Sigma Investments LP boosted its stake in shares of Redfin by 18.6% during the 1st quarter. Two Sigma Investments LP now owns 2,357,750 shares of the company’s stock worth $21,361,000 after purchasing an additional 369,797 shares during the period. Finally, PDT Partners LLC grew its holdings in Redfin by 365.5% during the 4th quarter. PDT Partners LLC now owns 378,198 shares of the company’s stock valued at $1,604,000 after purchasing an additional 296,950 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Insider Buying and Selling at Redfin

In related news, insider Anna Stevens sold 10,851 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the sale, the insider now directly owns 15,477 shares in the company, valued at approximately $104,934.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $6.90, for a total value of $54,620.40. Following the transaction, the insider now owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anna Stevens sold 10,851 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the sale, the insider now directly owns 15,477 shares of the company’s stock, valued at approximately $104,934.06. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Redfin Price Performance

NASDAQ:RDFN opened at $5.74 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91. Redfin Co. has a 1-year low of $4.26 and a 1-year high of $17.68. The company has a 50-day moving average of $6.72 and a 200 day moving average of $7.23.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.01. The firm had revenue of $218.08 million during the quarter, compared to analysts’ expectations of $220.32 million. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.83) EPS. Research analysts anticipate that Redfin Co. will post -1.31 EPS for the current fiscal year.

Analyst Ratings Changes

RDFN has been the subject of several analyst reports. Wedbush reissued a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday, February 28th. Royal Bank of Canada dropped their price objective on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Citigroup cut their price objective on Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. DA Davidson reiterated a “neutral” rating and set a $6.75 target price on shares of Redfin in a research report on Friday, March 22nd. Finally, Gordon Haskett cut shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price target on the stock. in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, Redfin presently has an average rating of “Hold” and an average target price of $7.92.

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; and originates and sells mortgages.