SG Americas Securities LLC Boosts Stake in Redfin Co. (NASDAQ:RDFN)

SG Americas Securities LLC grew its position in shares of Redfin Co. (NASDAQ:RDFN) by 47.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,615 shares of the company’s stock after acquiring an additional 23,441 shares during the quarter. SG Americas Securities LLC owned about 0.06% of Redfin worth $571,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 92,023 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of Redfin by 98.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 89,244 shares of the company’s stock valued at $536,000 after buying an additional 44,377 shares during the period. Tidal Investments LLC acquired a new position in Redfin during the 3rd quarter worth approximately $10,650,000. Ballentine Partners LLC acquired a new position in Redfin during the 4th quarter worth approximately $81,000. Finally, Geode Capital Management LLC boosted its holdings in Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after acquiring an additional 66,018 shares during the period. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wedbush lifted their price objective on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group downgraded shares of 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 note on Monday, November 18th. JPMorgan Chase & Co. upped their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Jefferies Financial Group lifted their target price on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Susquehanna increased their price target on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.16.

Redfin Stock Down 3.7 %

Shares of NASDAQ RDFN opened at $8.00 on Friday. The stock’s 50 day moving average price is $8.48 and its two-hundred day moving average price is $9.38. Redfin Co. has a 52-week low of $5.10 and a 52-week high of $15.29. The stock has a market capitalization of $991.84 million, a P/E ratio of -6.25 and a beta of 2.64.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million during the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. On average, analysts anticipate that Redfin Co. will post -1.25 EPS for the current year.

Insiders Place Their Bets

In related news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $8.43, for a total transaction of $70,955.31. Following the completion of the sale, the insider now owns 29,978 shares of the company’s stock, valued at $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 is accessible through this hyperlink. Also, insider Christian John Taubman sold 16,333 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the transaction, the insider now directly owns 73,466 shares in the company, valued at $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 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.