Point72 Asia Singapore Pte. Ltd. Takes $27,000 Position in Redfin Co. (NASDAQ:RDFN)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Redfin Co. (NASDAQ:RDFN) in the fourth quarter, HoldingsChannel reports. The firm acquired 3,417 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors have also modified their holdings of RDFN. Merit Financial Group LLC raised its position in shares of Redfin by 10.7% in the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock valued at $125,000 after buying an additional 1,529 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Redfin in the fourth quarter valued at approximately $81,000. SG Americas Securities LLC raised its position in shares of Redfin by 47.7% in the fourth quarter. SG Americas Securities LLC now owns 72,615 shares of the company’s stock valued at $571,000 after buying an additional 23,441 shares during the last quarter. Blue Trust Inc. raised its position in shares of Redfin by 76.3% in the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after buying an additional 2,520 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its position in shares of Redfin by 35.6% in the fourth quarter. Perigon Wealth Management LLC now owns 102,836 shares of the company’s stock valued at $796,000 after buying an additional 26,972 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RDFN shares. Susquehanna dropped their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Benchmark reaffirmed a “mixed” rating on shares of Redfin in a research report on Monday. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Finally, Citigroup upped their price target on shares of Redfin from $7.30 to $9.20 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Redfin presently has an average rating of “Hold” and a consensus price target of $10.45.

Redfin Stock Down 2.2%

Redfin stock opened at $10.12 on Tuesday. Redfin Co. has a 52-week low of $5.49 and a 52-week high of $15.29. The firm has a fifty day moving average of $9.57 and a 200-day moving average of $8.87. The firm has a market capitalization of $1.30 billion, a P/E ratio of -7.91 and a beta of 2.50.

Redfin (NASDAQ:RDFN) last released its quarterly 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 business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.57) earnings per share. On average, research analysts expect that Redfin Co. will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Christian John Taubman sold 16,209 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $11.15, for a total value of $180,730.35. Following the completion of the transaction, the insider now directly owns 74,616 shares in the company, valued at approximately $831,968.40. This represents a 17.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by corporate insiders.

Redfin Company 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.