Northern Trust Corp Has $9.03 Million Holdings in Redfin Co. (NASDAQ:RDFN)

Northern Trust Corp boosted its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,147,666 shares of the company’s stock after acquiring an additional 113,466 shares during the period. Northern Trust Corp owned approximately 0.93% of Redfin worth $9,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDFN. JPMorgan Chase & Co. lifted its holdings in Redfin by 89.0% during the fourth quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company’s stock worth $4,855,000 after acquiring an additional 290,545 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Redfin during the fourth quarter worth about $1,157,000. Hsbc Holdings PLC lifted its holdings in Redfin by 106.8% during the fourth quarter. Hsbc Holdings PLC now owns 193,597 shares of the company’s stock worth $1,541,000 after acquiring an additional 100,004 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Redfin by 57.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 270,340 shares of the company’s stock worth $2,128,000 after acquiring an additional 99,078 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Redfin during the fourth quarter worth about $649,000. 61.07% of the stock is currently owned by institutional investors.

Redfin Stock Performance

RDFN opened at $10.35 on Monday. Redfin Co. has a 52-week low of $5.49 and a 52-week high of $15.29. The firm has a market capitalization of $1.33 billion, a PE ratio of -8.09 and a beta of 2.50. The business’s 50-day simple moving average is $9.58 and its 200 day simple moving average is $8.87.

Redfin (NASDAQ:RDFN) last released its earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The company had revenue of $221.03 million during the quarter, compared to analyst estimates of $220.89 million. During the same quarter in the previous year, the firm earned ($0.57) EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, research analysts forecast that Redfin Co. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RDFN has been the topic of several recent analyst reports. Gordon Haskett upgraded Redfin to a “hold” rating in a report on Monday, March 10th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. Citigroup boosted their target price on Redfin from $7.30 to $9.20 and gave the company a “neutral” rating in a research note on Thursday, May 8th. B. Riley cut Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. Finally, Royal Bank of Canada boosted their target price on Redfin from $8.00 to $12.50 and gave the company a “sector perform” rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.45.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the sale, the insider now owns 74,616 shares in the company, valued at $831,968.40. This represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by corporate insiders.

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.