Redfin Co. (NASDAQ:RDFN) Stock Position Reduced by Tidal Investments LLC

Tidal Investments LLC lessened its position in shares of Redfin Co. (NASDAQ:RDFN) by 75.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,895 shares of the company’s stock after selling 640,105 shares during the period. Tidal Investments LLC owned about 0.17% of Redfin worth $1,652,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ballentine Partners LLC bought a new position in Redfin during the 4th quarter worth approximately $81,000. Blueshift Asset Management LLC bought a new stake in shares of Redfin in the 4th quarter worth approximately $197,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Redfin by 57.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 270,340 shares of the company’s stock worth $2,128,000 after purchasing an additional 99,078 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Redfin by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock worth $8,042,000 after purchasing an additional 23,621 shares during the last quarter. Finally, HighPoint Advisor Group LLC lifted its holdings in shares of Redfin by 369.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 66,454 shares of the company’s stock worth $528,000 after purchasing an additional 52,307 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Redfin from $8.00 to $12.50 and gave the stock a “sector perform” rating in a report on Tuesday, April 15th. Stephens cut their price target on Redfin from $12.50 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Susquehanna cut their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Benchmark reissued a “mixed” rating on shares of Redfin in a report on Monday. Finally, Piper Sandler upgraded Redfin from an “underweight” rating to a “neutral” rating and raised their target price for the company from $4.00 to $12.50 in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Redfin currently has an average rating of “Hold” and a consensus target price of $10.45.

Redfin Stock Performance

Shares of RDFN stock opened at $9.90 on Friday. Redfin Co. has a 1 year low of $5.49 and a 1 year high of $15.29. The stock has a market cap of $1.27 billion, a PE ratio of -7.73 and a beta of 2.50. The business’s fifty day moving average is $9.49 and its 200-day moving average is $8.87.

Redfin (NASDAQ:RDFN) last issued its quarterly 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 firm had revenue of $221.03 million during the quarter, compared to the consensus estimate of $220.89 million. During the same quarter in the previous year, the business posted ($0.57) EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts predict that Redfin Co. will post -1.25 earnings per share for the current year.

Insider Activity

In other news, insider Christian John Taubman sold 16,209 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the sale, the insider now directly owns 74,616 shares of the company’s stock, valued at $831,968.40. This trade represents a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is owned by insiders.

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.