Aigen Investment Management LP lessened its position in Redfin Co. (NASDAQ:RDFN) by 69.9% in the 1st quarter, Holdings Channel reports. The fund owned 7,426 shares of the company’s stock after selling 17,243 shares during the period. Aigen Investment Management LP’s holdings in Redfin were worth $494,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC purchased a new stake in shares of Redfin in the 1st quarter valued at approximately $34,000. Sowell Financial Services LLC increased its stake in Redfin by 211.1% in the 1st quarter. Sowell Financial Services LLC now owns 532 shares of the company’s stock valued at $28,000 after buying an additional 361 shares during the period. Trustcore Financial Services LLC increased its stake in Redfin by 62.5% in the 1st quarter. Trustcore Financial Services LLC now owns 650 shares of the company’s stock valued at $43,000 after buying an additional 250 shares during the period. Orion Capital Management LLC acquired a new position in Redfin in the 4th quarter valued at approximately $48,000. Finally, HHM Wealth Advisors LLC acquired a new position in Redfin in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 84.27% of the company’s stock.
In other news, insider Adam Wiener sold 6,500 shares of Redfin stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $75.43, for a total transaction of $490,295.00. Following the completion of the sale, the insider now owns 297,072 shares in the company, valued at approximately $22,408,140.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Glenn Kelman sold 30,000 shares of Redfin stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $66.39, for a total transaction of $1,991,700.00. Following the sale, the chief executive officer now owns 1,569,293 shares of the company’s stock, valued at approximately $104,185,362.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 229,246 shares of company stock valued at $13,232,443. 6.10% of the stock is owned by corporate insiders.
Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Wednesday, May 5th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.04). Redfin had a net margin of 0.60% and a return on equity of 1.37%. On average, sell-side analysts expect that Redfin Co. will post -0.52 EPS for the current fiscal year.
RDFN has been the topic of several research reports. Zacks Investment Research lowered shares of Redfin from a “hold” rating to a “sell” rating in a research note on Tuesday, May 11th. Stephens upgraded shares of Redfin from an “equal weight” rating to an “overweight” rating and set a $71.00 price target on the stock in a research note on Thursday, June 3rd. Wedbush dropped their price target on shares of Redfin from $94.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 6th. Needham & Company LLC started coverage on shares of Redfin in a research note on Monday, May 3rd. They set a “hold” rating on the stock. Finally, TheStreet lowered shares of Redfin from a “c-” rating to a “d+” rating in a research note on Friday, May 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Redfin has a consensus rating of “Hold” and a consensus price target of $61.50.
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; originates and sells mortgages; and buys and sells homes.
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