Patriot Financial Group Insurance Agency LLC Buys New Holdings in Redfin Co. (NASDAQ:RDFN)

Patriot Financial Group Insurance Agency LLC purchased a new position in Redfin Co. (NASDAQ:RDFN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,328 shares of the company’s stock, valued at approximately $113,000.

A number of other institutional investors have also added to or reduced their stakes in RDFN. Charles Schwab Investment Management Inc. boosted its position in shares of Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after acquiring an additional 92,023 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Redfin by 98.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 89,244 shares of the company’s stock worth $536,000 after purchasing an additional 44,377 shares during the last quarter. Tidal Investments LLC bought a new position in Redfin during the third quarter valued at approximately $10,650,000. Ballentine Partners LLC purchased a new position in Redfin during the 4th quarter valued at approximately $81,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Redfin during the 3rd quarter worth approximately $616,000. 61.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RDFN shares. Citigroup reduced their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price target on shares of Redfin in a report on Tuesday, November 19th. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. JPMorgan Chase & Co. upped their price objective on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, Wedbush lifted their target price on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.16.

Redfin Trading Down 5.1 %

NASDAQ:RDFN opened at $8.24 on Thursday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -6.44 and a beta of 2.64. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The stock has a fifty day simple moving average of $8.50 and a 200-day simple moving average of $9.39.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The company had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same period last year, the firm earned ($0.17) EPS. As a group, equities research analysts predict that Redfin Co. will post -1.25 EPS for the current fiscal year.

Insider Activity at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the completion of the sale, the insider now directly owns 29,978 shares in the company, valued at approximately $252,714.54. This represents a 21.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christian John Taubman sold 16,333 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the transaction, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. This represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

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.