Raymond James & Associates Has $261,000 Stock Position in Redfin Co. (NASDAQ:RDFN)

Raymond James & Associates cut its stake in shares of Redfin Co. (NASDAQ:RDFN) by 76.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,281 shares of the company’s stock after selling 83,983 shares during the period. Raymond James & Associates’ holdings in Redfin were worth $261,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new position in Redfin in the third quarter valued at about $27,000. Allspring Global Investments Holdings LLC raised its holdings in Redfin by 41.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,442 shares of the company’s stock valued at $74,000 after buying an additional 3,041 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in Redfin during the 3rd quarter worth approximately $82,000. Seven Eight Capital LP bought a new stake in Redfin during the 3rd quarter worth approximately $86,000. Finally, Numerai GP LLC acquired a new position in Redfin in the 3rd quarter valued at approximately $126,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Activity at Redfin

In other news, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 52,117 shares in the company, valued at approximately $359,607.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Redfin 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 value of $73,569.78. Following the completion of the transaction, the insider now owns 15,477 shares in the company, valued at approximately $104,934.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian John Taubman sold 7,916 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the transaction, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RDFN. Wedbush reissued a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday, February 28th. Gordon Haskett downgraded shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price for the company. in a research report on Thursday, February 29th. Royal Bank of Canada reduced their price objective on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Citigroup cut their price target on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Finally, DA Davidson restated a “neutral” rating and set a $6.75 target price on shares of Redfin in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.92.

Redfin Stock Down 2.0 %

Redfin stock opened at $5.51 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91. The firm’s fifty day moving average price is $6.24 and its two-hundred day moving average price is $7.14. The firm has a market capitalization of $657.02 million, a price-to-earnings ratio of -4.71 and a beta of 2.66. Redfin Co. has a 1-year low of $4.26 and a 1-year high of $17.68.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The business had revenue of $218.08 million during the quarter, compared to the consensus estimate of $220.32 million. During the same quarter in the previous year, the business earned ($0.83) EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts predict that Redfin Co. will post -1.31 earnings per share for the current fiscal year.

About Redfin

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.