Harvest Fund Management Co. Ltd Invests $273,000 in Redfin Co. (NASDAQ:RDFN)

Harvest Fund Management Co. Ltd acquired a new stake in Redfin Co. (NASDAQ:RDFN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,674 shares of the company’s stock, valued at approximately $273,000.

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

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the transaction, the insider now owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Christian John Taubman sold 7,916 shares of the 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 transaction, the insider now owns 52,117 shares in the company, valued at approximately $359,607.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Anna Stevens sold 10,851 shares of Redfin stock in a transaction dated 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 owns 15,477 shares in the company, valued at $104,934.06. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Redfin Stock Performance

Shares of RDFN stock opened at $5.21 on Thursday. The business’s 50 day moving average is $6.40 and its two-hundred day moving average is $7.16. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91. Redfin Co. has a 12 month low of $4.26 and a 12 month high of $17.68.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data 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. 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 analysts’ expectations of $220.32 million. During the same quarter in the previous year, the firm earned ($0.83) EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Redfin Co. will post -1.31 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RDFN shares. Royal Bank of Canada decreased their price target on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. DA Davidson reiterated a “neutral” rating and issued a $6.75 target price on shares of Redfin in a report on Friday, March 22nd. 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 report on Thursday, February 29th. Wedbush restated a “neutral” rating and issued a $8.00 price target on shares of Redfin in a research report on Wednesday, February 28th. Finally, Gordon Haskett cut shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price objective on the stock. in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.92.

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.