Jackson Square Partners LLC acquired a new stake in Redfin Corp (NASDAQ:RDFN) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,657,962 shares of the company’s stock, valued at approximately $51,927,000.
Several other hedge funds have also recently bought and sold shares of RDFN. Nationwide Fund Advisors acquired a new stake in shares of Redfin in the third quarter valued at approximately $285,000. First Trust Advisors LP acquired a new stake in shares of Redfin in the third quarter valued at approximately $1,548,000. Baillie Gifford & Co. acquired a new stake in shares of Redfin in the third quarter valued at approximately $15,442,000. Advisor Group Inc. acquired a new stake in shares of Redfin in the third quarter valued at approximately $129,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Redfin in the third quarter valued at approximately $832,000. 52.30% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. BidaskClub downgraded Redfin from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. William Blair reaffirmed an “outperform” rating on shares of Redfin in a report on Thursday, February 1st. Zacks Investment Research downgraded Redfin from a “hold” rating to a “sell” rating in a report on Wednesday. Jefferies Group assumed coverage on Redfin in a report on Tuesday, February 6th. They set a “buy” rating and a $28.00 price target for the company. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $28.00 price target on shares of Redfin in a report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $25.73.
Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $95.80 million for the quarter, compared to analyst estimates of $91.59 million. The firm’s revenue was up 43.4% compared to the same quarter last year. equities research analysts anticipate that Redfin Corp will post -0.19 EPS for the current year.
In other Redfin news, CTO Bridget Frey sold 5,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.66, for a total value of $103,300.00. Following the completion of the transaction, the chief technology officer now owns 42,083 shares in the company, valued at $869,434.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Wiener sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.82, for a total value of $208,200.00. Following the completion of the transaction, the insider now owns 299,649 shares of the company’s stock, valued at approximately $6,238,692.18. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $824,250 in the last quarter.
Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.
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