Redfin Co. (NASDAQ:RDFN) Shares Bought by Axiom Advisory LLC

Axiom Advisory LLC lifted its position in shares of Redfin Co. (NASDAQ:RDFN) by 106.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,104 shares of the company’s stock after acquiring an additional 32,538 shares during the quarter. Axiom Advisory LLC owned 0.05% of Redfin worth $791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RDFN. Vanguard Group Inc. boosted its position in Redfin by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 17,238,307 shares of the company’s stock worth $177,899,000 after purchasing an additional 1,260,746 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Redfin in the 4th quarter worth about $552,000. Allspring Global Investments Holdings LLC grew its stake in Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock valued at $31,000 after acquiring an additional 3,101 shares during the last quarter. CAP Partners LLC increased its holdings in Redfin by 18.5% during the 1st quarter. CAP Partners LLC now owns 31,633 shares of the company’s stock valued at $210,000 after acquiring an additional 4,939 shares in the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in Redfin during the first quarter worth about $72,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the sale, the insider now directly owns 71,720 shares in the company, valued at $663,410. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on RDFN. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. DA Davidson reissued a “neutral” rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research report on Wednesday, August 7th. Finally, Susquehanna reduced their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Redfin has an average rating of “Hold” and a consensus price target of $7.88.

Redfin Stock Performance

RDFN opened at $10.26 on Wednesday. Redfin Co. has a 1 year low of $4.26 and a 1 year high of $15.29. The company’s 50 day simple moving average is $10.22 and its 200 day simple moving average is $7.80. The stock has a market capitalization of $1.25 billion, a PE ratio of -8.62 and a beta of 2.68.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The company had revenue of $295.20 million during the quarter, compared to analyst estimates of $291.59 million. During the same quarter last year, the business earned ($0.25) EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Redfin Co. will post -1.13 earnings per share for the current fiscal year.

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.