Redfin Co. (NASDAQ:RDFN) Shares Sold by Cwm LLC

Cwm LLC lessened its stake in shares of Redfin Co. (NASDAQ:RDFN) by 25.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,052 shares of the company’s stock after selling 2,044 shares during the quarter. Cwm LLC’s holdings in Redfin were worth $62,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Dark Forest Capital Management LP lifted its position in Redfin by 342.4% in the third quarter. Dark Forest Capital Management LP now owns 205,033 shares of the company’s stock valued at $1,443,000 after acquiring an additional 158,690 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Redfin by 89.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 360,212 shares of the company’s stock valued at $3,717,000 after purchasing an additional 169,654 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Redfin in the 4th quarter valued at about $206,000. Vanguard Group Inc. grew its stake in Redfin by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,977,561 shares of the company’s stock worth $112,482,000 after buying an additional 192,162 shares during the last quarter. Finally, Jump Financial LLC grew its stake in Redfin by 19.8% during the 3rd quarter. Jump Financial LLC now owns 372,548 shares of the company’s stock worth $2,623,000 after buying an additional 61,559 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the transaction, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Anna Stevens sold 10,851 shares of Redfin 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 transaction, the insider now owns 15,477 shares of the company’s stock, valued at approximately $104,934.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christian John Taubman sold 7,916 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the sale, 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. Company insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research note on Wednesday. Royal Bank of Canada decreased their price target on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Wedbush restated a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday. DA Davidson reaffirmed a “neutral” rating and issued a $6.75 target price on shares of Redfin in a report on Friday, March 22nd. Finally, Stephens raised Redfin from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $9.00 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.03.

Redfin Price Performance

Shares of RDFN opened at $6.25 on Thursday. 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 stock’s 50 day moving average is $6.12 and its two-hundred day moving average is $7.15. Redfin Co. has a twelve month low of $4.26 and a twelve month high of $17.68. The firm has a market capitalization of $746.69 million, a PE ratio of -5.34 and a beta of 2.68.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.01. The firm had revenue of $225.50 million for the quarter, compared to the consensus estimate of $217.79 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.93) earnings per share. Research analysts anticipate that Redfin Co. will post -1.31 earnings per share for the current year.

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.