Stifel Financial Corp Lowers Stock Holdings in Redfin Co. (NASDAQ:RDFN)

Stifel Financial Corp lessened its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 65.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 20,461 shares of the company’s stock after selling 38,107 shares during the period. Stifel Financial Corp’s holdings in Redfin were worth $161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RDFN. Strategic Investment Solutions Inc. IL increased its position in Redfin by 18,368.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 9,234 shares of the company’s stock worth $73,000 after buying an additional 9,184 shares during the period. XTX Topco Ltd grew its holdings in Redfin by 35.2% during the fourth quarter. XTX Topco Ltd now owns 49,127 shares of the company’s stock worth $387,000 after acquiring an additional 12,791 shares during the period. Optimize Financial Inc purchased a new stake in Redfin during the fourth quarter worth $122,000. Neuberger Berman Group LLC purchased a new stake in Redfin during the fourth quarter worth $88,000. Finally, Raymond James Financial Inc. purchased a new stake in Redfin during the fourth quarter worth $83,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. B. Riley downgraded Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 10th. Gordon Haskett upgraded Redfin to a “hold” rating in a research report on Monday, March 10th. DA Davidson reiterated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Piper Sandler upgraded Redfin from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $4.00 to $12.50 in a research report on Tuesday, March 11th. Finally, Stephens reduced their target price on Redfin from $12.50 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.45.

Redfin Trading Up 1.2%

NASDAQ RDFN opened at $10.02 on Friday. The stock’s 50 day moving average is $9.57 and its two-hundred day moving average is $8.89. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -7.83 and a beta of 2.50. Redfin Co. has a 1-year low of $5.49 and a 1-year high of $15.29.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to analysts’ expectations of $220.89 million. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.57) EPS. On average, analysts predict that Redfin Co. will post -1.25 earnings per share for the current year.

Insider Activity

In other Redfin news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the sale, the insider now owns 74,616 shares of the company’s stock, valued at $831,968.40. This trade represents a 17.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by company insiders.

About Redfin

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.