Blue Trust Inc. Buys 2,446 Shares of Redfin Co. (NASDAQ:RDFN)

Blue Trust Inc. lifted its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 285.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,302 shares of the company’s stock after acquiring an additional 2,446 shares during the period. Blue Trust Inc.’s holdings in Redfin were worth $41,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RDFN. Mather Group LLC. lifted its holdings in shares of Redfin by 282.1% during the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after acquiring an additional 2,821 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Redfin by 205.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after acquiring an additional 3,101 shares during the last quarter. EntryPoint Capital LLC bought a new position in Redfin in the first quarter valued at approximately $58,000. First Trust Direct Indexing L.P. bought a new position in Redfin in the first quarter valued at approximately $72,000. Finally, Algert Global LLC acquired a new stake in shares of Redfin in the second quarter valued at approximately $72,000. 61.07% of the stock is owned by institutional investors.

Redfin Trading Down 0.4 %

Shares of NASDAQ:RDFN opened at $10.33 on Friday. The stock’s fifty day simple moving average is $11.14 and its two-hundred day simple moving average is $8.31. Redfin Co. has a 1-year low of $4.97 and a 1-year high of $15.29. The stock has a market cap of $1.26 billion, a PE ratio of -8.83 and a beta of 2.68.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.03. The firm had revenue of $295.20 million during the quarter, compared to analysts’ expectations of $291.59 million. During the same period last year, the business posted ($0.25) EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that Redfin Co. will post -1.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. B. Riley boosted their target price on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group boosted their target price on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Wedbush reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Redfin presently has a consensus rating of “Hold” and a consensus price target of $8.20.

Insiders Place Their Bets

In related news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the sale, the insider now owns 71,720 shares in the company, valued at $663,410. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by corporate 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.