Cowen Prime Services LLC decreased its position in shares of Redfin Corp (NASDAQ:RDFN) by 98.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 969 shares of the company’s stock after selling 46,831 shares during the period. Cowen Prime Services LLC’s holdings in Redfin were worth $48,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of RDFN. FNY Investment Advisers LLC bought a new position in shares of Redfin during the 1st quarter valued at $36,000. Captrust Financial Advisors increased its stake in shares of Redfin by 167.7% in the 4th quarter. Captrust Financial Advisors now owns 2,136 shares of the company’s stock worth $31,000 after purchasing an additional 1,338 shares in the last quarter. Edge Wealth Management LLC purchased a new stake in shares of Redfin in the 1st quarter worth $45,000. Great Point Wealth Advisors LLC purchased a new stake in shares of Redfin in the 4th quarter worth $144,000. Finally, United Services Automobile Association purchased a new stake in shares of Redfin in the 3rd quarter worth $195,000. Hedge funds and other institutional investors own 94.57% of the company’s stock.
Several equities research analysts have recently commented on RDFN shares. BidaskClub upgraded Redfin from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. ValuEngine lowered Redfin from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Piper Jaffray Companies upgraded Redfin from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $17.00 to $26.00 in a research note on Monday, April 1st. Zacks Investment Research lowered Redfin from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Finally, Cowen reiterated a “buy” rating and issued a $21.00 price target on shares of Redfin in a research note on Monday, February 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.67.
In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $19.64, for a total value of $58,920.00. Following the completion of the sale, the chief financial officer now owns 3,000 shares of the company’s stock, valued at $58,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bridget Frey sold 6,381 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $19.76, for a total transaction of $126,088.56. Following the completion of the sale, the insider now directly owns 44,313 shares of the company’s stock, valued at approximately $875,624.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,784 shares of company stock valued at $1,417,286. 8.20% of the stock is owned by insiders.
Shares of NASDAQ:RDFN traded down $0.12 during trading on Wednesday, reaching $17.38. The company’s stock had a trading volume of 622,812 shares, compared to its average volume of 1,090,506. The company has a current ratio of 4.73, a quick ratio of 4.36 and a debt-to-equity ratio of 0.50. Redfin Corp has a 12 month low of $13.50 and a 12 month high of $26.01. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -35.47 and a beta of 0.91.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.74) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.01. Redfin had a negative net margin of 14.06% and a negative return on equity of 22.64%. The firm had revenue of $110.10 million during the quarter, compared to the consensus estimate of $103.97 million. During the same quarter last year, the firm earned ($0.44) EPS. The firm’s revenue for the quarter was up 37.8% compared to the same quarter last year. As a group, equities analysts forecast that Redfin Corp will post -0.95 EPS for the current year.
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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