Perigon Wealth Management LLC trimmed its position in shares of Redfin Corporation (NASDAQ:RDFN – Free Report) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,304 shares of the company’s stock after selling 2,532 shares during the quarter. Perigon Wealth Management LLC owned 0.08% of Redfin worth $924,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of RDFN. Proficio Capital Partners LLC acquired a new stake in Redfin in the 4th quarter valued at about $276,000. US Bancorp DE raised its position in Redfin by 48.3% in the 4th quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after purchasing an additional 1,799 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Redfin by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock valued at $8,042,000 after purchasing an additional 23,621 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Redfin in the 4th quarter valued at about $83,000. Finally, AlphaQuest LLC raised its position in shares of Redfin by 87.8% during the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock worth $56,000 after acquiring an additional 3,312 shares in the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
RDFN has been the topic of several research analyst reports. Zelman & Associates raised Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. Susquehanna lowered their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Benchmark restated a “mixed” rating on shares of Redfin in a research note on Monday, May 19th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. Finally, Royal Bank Of Canada lifted their price objective on Redfin from $8.00 to $12.50 and gave the stock a “sector perform” rating in a report on Tuesday, April 15th. One equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.45.
Redfin Stock Down 1.5%
NASDAQ RDFN opened at $11.23 on Friday. Redfin Corporation has a fifty-two week low of $5.49 and a fifty-two week high of $15.29. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -7.34 and a beta of 2.38. The business has a fifty day moving average of $9.98 and a 200-day moving average of $9.08.
Redfin (NASDAQ:RDFN – Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The company had revenue of $221.03 million during the quarter, compared to analysts’ expectations of $220.89 million. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.57) EPS. As a group, analysts anticipate that Redfin Corporation will post -1.25 EPS for the current year.
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.
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