Raymond James Financial Inc. Invests $83,000 in Redfin Co. (NASDAQ:RDFN)

Raymond James Financial Inc. bought a new stake in Redfin Co. (NASDAQ:RDFN) during the 4th quarter, HoldingsChannel reports. The fund bought 10,501 shares of the company’s stock, valued at approximately $83,000.

Other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in shares of Redfin by 3.3% during the 4th quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock valued at $293,000 after purchasing an additional 1,189 shares in the last quarter. Merit Financial Group LLC lifted its stake in Redfin by 10.7% during the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock valued at $125,000 after purchasing an additional 1,529 shares during the last quarter. US Bancorp DE boosted its holdings in Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after buying an additional 1,799 shares in the last quarter. Blue Trust Inc. grew its position in Redfin by 76.3% in the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after buying an additional 2,520 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Redfin by 87.8% in the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock valued at $56,000 after buying an additional 3,312 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of the business’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 sale, the insider now directly owns 74,616 shares of the company’s stock, valued at approximately $831,968.40. The trade was a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.

Redfin Stock Performance

Shares of RDFN opened at $9.84 on Wednesday. The business’s fifty day moving average price is $9.48 and its two-hundred day moving average price is $8.88. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -7.69 and a beta of 2.50. Redfin Co. has a 52 week low of $5.49 and a 52 week high of $15.29.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.04). The company had revenue of $221.03 million for the quarter, compared to analyst estimates of $220.89 million. During the same period last year, the business posted ($0.57) earnings per share. Redfin’s revenue was down 2.0% compared to the same quarter last year. As a group, research analysts forecast that Redfin Co. will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RDFN shares. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $4.00 to $12.50 in a research note on Tuesday, March 11th. Citigroup increased their price target on Redfin from $7.30 to $9.20 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Susquehanna cut their price objective on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. B. Riley lowered shares of Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. Finally, Gordon Haskett raised shares of Redfin to a “hold” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Redfin has a consensus rating of “Hold” and an average target price of $10.45.

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.