Federated Hermes Inc. Has $8.94 Million Stock Holdings in Redfin Co. (NASDAQ:RDFN)

Federated Hermes Inc. trimmed its stake in Redfin Co. (NASDAQ:RDFN) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,488,228 shares of the company’s stock after selling 10,761 shares during the quarter. Federated Hermes Inc. owned about 1.25% of Redfin worth $8,944,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of RDFN. Vanguard Group Inc. grew its holdings in Redfin by 11.3% in the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after purchasing an additional 1,953,127 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Redfin by 25.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after purchasing an additional 445,486 shares during the period. Trexquant Investment LP grew its holdings in Redfin by 208.8% in the fourth quarter. Trexquant Investment LP now owns 617,880 shares of the company’s stock worth $6,377,000 after purchasing an additional 417,811 shares during the period. Assenagon Asset Management S.A. grew its holdings in Redfin by 695.2% in the second quarter. Assenagon Asset Management S.A. now owns 351,612 shares of the company’s stock worth $2,113,000 after purchasing an additional 307,396 shares during the period. Finally, Manchester Capital Management LLC lifted its stake in shares of Redfin by 135.7% in the first quarter. Manchester Capital Management LLC now owns 144,118 shares of the company’s stock valued at $958,000 after buying an additional 82,965 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 other news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 directly owns 71,720 shares in the company, valued at approximately $663,410. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by company insiders.

Redfin Trading Up 4.2 %

Shares of Redfin stock opened at $14.21 on Wednesday. Redfin Co. has a 1 year low of $4.26 and a 1 year high of $14.65. The firm has a market cap of $1.73 billion, a PE ratio of -11.94 and a beta of 2.66. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.48 and a quick ratio of 1.48. The company has a 50 day simple moving average of $8.74 and a two-hundred day simple moving average of $7.14.

Redfin (NASDAQ:RDFN) last announced its earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.03. Redfin had a negative net margin of 13.55% and a negative return on equity of 1,780.89%. The business had revenue of $295.20 million during the quarter, compared to analyst estimates of $291.59 million. During the same period in the previous year, the business posted ($0.25) earnings per share. Redfin’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Redfin Co. will post -1.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RDFN has been the topic of a number of recent research reports. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research note on Wednesday, July 3rd. Susquehanna lowered their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. B. Riley raised shares of Redfin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $7.50 to $13.00 in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $8.00 target price on shares of Redfin in a research note on Wednesday, August 7th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.68.

Redfin Company 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.