Redfin Co. (NASDAQ:RDFN) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC boosted its stake in Redfin Co. (NASDAQ:RDFN) by 61.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 54,288 shares of the company’s stock after purchasing an additional 20,737 shares during the period. Headlands Technologies LLC’s holdings in Redfin were worth $326,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in Redfin by 5.4% in the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock valued at $201,000 after buying an additional 1,710 shares during the period. ProShare Advisors LLC lifted its position in shares of Redfin by 9.8% during the 1st quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock worth $132,000 after purchasing an additional 1,766 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Redfin by 17.7% during the 1st quarter. Principal Financial Group Inc. now owns 14,872 shares of the company’s stock worth $99,000 after purchasing an additional 2,241 shares during the last quarter. Mather Group LLC. lifted its position in shares of Redfin by 282.1% during 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 last quarter. Finally, Swiss National Bank lifted its position in shares of Redfin by 1.3% during the 1st quarter. Swiss National Bank now owns 227,500 shares of the company’s stock worth $1,513,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Trading Up 25.7 %

NASDAQ RDFN opened at $14.45 on Friday. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $1.73 billion, a PE ratio of -12.14 and a beta of 2.66. Redfin Co. has a one year low of $4.26 and a one year high of $14.47. The firm’s fifty day moving average is $8.60 and its two-hundred day moving average is $7.09.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The company had revenue of $295.20 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.25) earnings per share. Analysts expect that Redfin Co. will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the transaction, the insider now directly owns 71,720 shares in the company, valued at $663,410. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on RDFN. JPMorgan Chase & Co. decreased their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Wedbush reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research report on Wednesday, August 7th. Susquehanna decreased their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. DA Davidson reissued a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research report on Wednesday, July 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.