Cwm LLC Lowers Stake in Redfin Co. (NASDAQ:RDFN)

Cwm LLC reduced its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 25.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,052 shares of the company’s stock after selling 2,044 shares during the period. Cwm LLC’s holdings in Redfin were worth $62,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in shares of Redfin by 4.4% during the third quarter. Jennison Associates LLC now owns 61,019 shares of the company’s stock valued at $430,000 after purchasing an additional 2,580 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Redfin by 41.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,442 shares of the company’s stock worth $74,000 after acquiring an additional 3,041 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Redfin during the 3rd quarter valued at about $27,000. Swiss National Bank grew its holdings in shares of Redfin by 2.0% during the third quarter. Swiss National Bank now owns 243,600 shares of the company’s stock valued at $1,715,000 after buying an additional 4,700 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Redfin by 36.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,326 shares of the company’s stock worth $136,000 after purchasing an additional 5,157 shares in the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Insider Activity at Redfin

In related news, insider Anna Stevens sold 10,851 shares of Redfin stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the completion of the sale, the insider now directly owns 15,477 shares in the company, valued at $104,934.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Anna Stevens sold 10,851 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the completion of the transaction, the insider now directly owns 15,477 shares of the company’s stock, valued at approximately $104,934.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christian John Taubman sold 7,916 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the sale, the insider now owns 52,117 shares in the company, valued at $359,607.30. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on RDFN shares. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research note on Wednesday. Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research note on Wednesday. Citigroup cut their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday. Stephens raised shares of Redfin from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $9.00 in a report on Wednesday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $6.75 target price on shares of Redfin in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.03.

Redfin Trading Down 1.9 %

Shares of RDFN opened at $6.25 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91. Redfin Co. has a twelve month low of $4.26 and a twelve month high of $17.68. The company has a market cap of $746.69 million, a P/E ratio of -5.34 and a beta of 2.68. The company’s fifty day simple moving average is $6.12 and its 200-day simple moving average is $7.15.

Redfin (NASDAQ:RDFN) last released its earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The business had revenue of $225.50 million for the quarter, compared to analyst estimates of $217.79 million. During the same quarter last year, the firm posted ($0.93) earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts expect that Redfin Co. will post -1.31 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.