Bank Julius Baer & Co. Ltd Zurich trimmed its position in shares of Redfin Co. (NASDAQ:RDFN) by 11.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,153 shares of the company’s stock after selling 1,502 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Redfin were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. American International Group Inc. lifted its holdings in shares of Redfin by 10.7% during the 2nd quarter. American International Group Inc. now owns 58,688 shares of the company’s stock valued at $2,460,000 after buying an additional 5,691 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Redfin by 13.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 605,492 shares of the company’s stock valued at $25,377,000 after acquiring an additional 70,681 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Redfin by 2.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 80,117 shares of the company’s stock valued at $3,358,000 after acquiring an additional 2,084 shares in the last quarter. Chartwell Investment Partners LLC bought a new position in shares of Redfin in the 2nd quarter valued at approximately $695,000. Finally, Swiss National Bank raised its stake in shares of Redfin by 38.0% in the 2nd quarter. Swiss National Bank now owns 197,500 shares of the company’s stock valued at $8,277,000 after acquiring an additional 54,400 shares in the last quarter. Institutional investors and hedge funds own 89.59% of the company’s stock.
RDFN opened at $43.86 on Friday. The stock has a market cap of $4.49 billion, a PE ratio of -60.08 and a beta of 1.90. The company has a current ratio of 4.21, a quick ratio of 4.14 and a debt-to-equity ratio of 0.35. Redfin Co. has a 1 year low of $9.63 and a 1 year high of $56.31. The stock’s 50 day simple moving average is $47.19 and its 200-day simple moving average is $40.94.
Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $236.92 million for the quarter, compared to analysts’ expectations of $216.52 million. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. Redfin’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. Equities analysts forecast that Redfin Co. will post -0.46 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on RDFN shares. Bank of America raised their price objective on Redfin from $25.00 to $28.00 and gave the company an “underperform” rating in a research note on Friday, November 6th. ValuEngine downgraded Redfin from a “buy” rating to a “hold” rating in a research note on Wednesday, November 11th. Wedbush raised their price objective on Redfin from $48.00 to $62.00 in a research note on Thursday, October 15th. Compass Point downgraded Redfin from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research report on Monday, August 3rd. Finally, BidaskClub downgraded Redfin from a “buy” rating to a “hold” rating in a research report on Tuesday, November 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.80.
In related news, CFO Christopher John Nielsen sold 63,000 shares of the business’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $48.13, for a total value of $3,032,190.00. Following the sale, the chief financial officer now owns 81,461 shares of the company’s stock, valued at approximately $3,920,717.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott Nagel sold 55,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $44.21, for a total value of $2,431,550.00. Following the completion of the sale, the insider now directly owns 139,226 shares in the company, valued at approximately $6,155,181.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 244,380 shares of company stock worth $11,018,104. 8.20% of the stock is currently owned by company insiders.
Redfin Corporation operates as a 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; originates and sells mortgages; and buys and sells homes.
See Also: Earnings Per Share (EPS)
Want to see what other hedge funds are holding RDFN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Redfin Co. (NASDAQ:RDFN).
Receive News & Ratings for Redfin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redfin and related companies with MarketBeat.com's FREE daily email newsletter.