Citigroup Inc. boosted its position in shares of Redfin Corp (NASDAQ:RDFN) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,308 shares of the company’s stock after purchasing an additional 18,690 shares during the quarter. Citigroup Inc. owned 0.09% of Redfin worth $1,200,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RDFN. Capital International Investors acquired a new position in Redfin during the third quarter valued at approximately $107,820,000. Vanguard Group Inc grew its holdings in Redfin by 29.5% during the third quarter. Vanguard Group Inc now owns 8,056,148 shares of the company’s stock valued at $150,651,000 after purchasing an additional 1,836,101 shares during the period. Vanguard Group Inc. grew its holdings in Redfin by 29.5% during the third quarter. Vanguard Group Inc. now owns 8,056,148 shares of the company’s stock valued at $150,651,000 after purchasing an additional 1,836,101 shares during the period. BlackRock Inc. grew its holdings in Redfin by 33.8% during the third quarter. BlackRock Inc. now owns 4,953,847 shares of the company’s stock valued at $92,637,000 after purchasing an additional 1,251,210 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Redfin by 69.0% during the third quarter. Janus Henderson Group PLC now owns 1,380,983 shares of the company’s stock valued at $25,824,000 after purchasing an additional 563,900 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.
Redfin stock opened at $18.48 on Friday. The company has a market capitalization of $1.67 billion, a PE ratio of -37.71 and a beta of 0.92. Redfin Corp has a twelve month low of $13.50 and a twelve month high of $26.01. The company has a quick ratio of 10.25, a current ratio of 10.74 and a debt-to-equity ratio of 0.31.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, February 14th. The company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. The business had revenue of $124.10 million for the quarter, compared to analyst estimates of $117.15 million. Redfin had a negative net margin of 8.62% and a negative return on equity of 14.24%. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. As a group, equities research analysts predict that Redfin Corp will post -0.87 EPS for the current fiscal year.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Redfin from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Saturday, January 12th. BidaskClub cut shares of Redfin from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Jefferies Financial Group cut shares of Redfin from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. Compass Point assumed coverage on shares of Redfin in a report on Thursday, January 24th. They issued a “buy” rating and a $20.50 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Redfin to $26.00 and gave the company an “outperform” rating in a report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Redfin presently has a consensus rating of “Hold” and a consensus target price of $20.13.
In other news, insider Bridget Frey sold 5,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $20.37, for a total value of $101,850.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Selina Tobaccowala sold 1,710 shares of the business’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $18.00, for a total transaction of $30,780.00. Following the completion of the sale, the director now directly owns 17,302 shares in the company, valued at approximately $311,436. The disclosure for this sale can be found here. In the last three months, insiders sold 51,850 shares of company stock worth $947,438. 8.80% of the stock is currently owned by insiders.
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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