Scientech Research LLC Purchases 52,367 Shares of Redfin Co. (NASDAQ:RDFN)

Scientech Research LLC boosted its position in shares of Redfin Co. (NASDAQ:RDFN) by 162.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,562 shares of the company’s stock after buying an additional 52,367 shares during the period. Scientech Research LLC owned approximately 0.07% of Redfin worth $508,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. boosted its holdings in shares of Redfin by 282.1% in the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after purchasing an additional 2,821 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after acquiring an additional 3,101 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Redfin during the 1st quarter worth about $58,000. New York State Teachers Retirement System bought a new position in Redfin during the 1st quarter valued at about $66,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in Redfin in the 1st quarter worth about $72,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Trading Down 2.6 %

NASDAQ:RDFN opened at $12.51 on Monday. The firm has a 50-day simple moving average of $9.73 and a 200-day simple moving average of $7.54. Redfin Co. has a one year low of $4.26 and a one year high of $15.29. The firm has a market cap of $1.52 billion, a P/E ratio of -10.51 and a beta of 2.66. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.48 and a current ratio of 1.48.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The company had revenue of $295.20 million during the quarter, compared to the consensus estimate of $291.59 million. Redfin had a negative net margin of 13.55% and a negative return on equity of 1,780.89%. Redfin’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. Equities analysts anticipate that Redfin Co. will post -1.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the transaction, the insider now directly owns 71,720 shares in the company, valued at $663,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RDFN. DA Davidson reiterated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, July 3rd. Susquehanna reduced their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Finally, Wedbush reissued a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Redfin currently has an average rating of “Hold” and a consensus target price of $7.68.

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.