The Manufacturers Life Insurance Company Acquires 3,371 Shares of Redfin Co. (NASDAQ:RDFN)

The Manufacturers Life Insurance Company boosted its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,971 shares of the company’s stock after acquiring an additional 3,371 shares during the period. The Manufacturers Life Insurance Company’s holdings in Redfin were worth $270,000 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. Vanguard Group Inc. lifted its holdings in Redfin by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 17,238,307 shares of the company’s stock worth $177,899,000 after acquiring an additional 1,260,746 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Redfin by 205.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock valued at $31,000 after purchasing an additional 3,101 shares in the last quarter. CAP Partners LLC lifted its holdings in shares of Redfin by 18.5% in the first quarter. CAP Partners LLC now owns 31,633 shares of the company’s stock valued at $210,000 after purchasing an additional 4,939 shares in the last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of Redfin in the first quarter valued at about $72,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Redfin by 17.7% in the first quarter. Principal Financial Group Inc. now owns 14,872 shares of the company’s stock valued at $99,000 after purchasing an additional 2,241 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the transaction, the insider now owns 71,720 shares of the company’s stock, valued at $663,410. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.40% of the company’s stock.

Redfin Stock Performance

RDFN opened at $11.23 on Friday. Redfin Co. has a 52-week low of $4.26 and a 52-week high of $15.29. The firm has a market capitalization of $1.37 billion, a PE ratio of -9.60 and a beta of 2.68. The business’s 50-day simple moving average is $10.79 and its 200 day simple moving average is $8.03.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. Redfin’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.25) EPS. On average, research analysts forecast that Redfin Co. will post -1.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on RDFN. Needham & Company LLC restated a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Wedbush restated a “neutral” rating and issued a $8.00 price target on shares of Redfin in a report on Wednesday, August 7th. DA Davidson restated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, July 3rd. B. Riley boosted their price target on Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Susquehanna cut their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.88.

Redfin 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.