Thrivent Financial for Lutherans Decreases Holdings in Redfin Co. (NASDAQ:RDFN)

Thrivent Financial for Lutherans reduced its position in Redfin Co. (NASDAQ:RDFN) by 59.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 18,034 shares of the company’s stock after selling 26,200 shares during the period. Thrivent Financial for Lutherans’ holdings in Redfin were worth $1,144,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RDFN. Bares Capital Management Inc. lifted its holdings in shares of Redfin by 55.8% in the 2nd quarter. Bares Capital Management Inc. now owns 7,994,900 shares of the company’s stock valued at $506,957,000 after purchasing an additional 2,864,685 shares during the last quarter. Durable Capital Partners LP lifted its holdings in shares of Redfin by 6.7% in the 2nd quarter. Durable Capital Partners LP now owns 9,163,912 shares of the company’s stock valued at $581,084,000 after purchasing an additional 576,272 shares during the last quarter. Jefferies Group LLC lifted its holdings in shares of Redfin by 4,020.7% in the 2nd quarter. Jefferies Group LLC now owns 576,900 shares of the company’s stock valued at $36,581,000 after purchasing an additional 562,900 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Redfin by 66.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,357,097 shares of the company’s stock valued at $86,055,000 after purchasing an additional 542,997 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of Redfin by 5.4% in the 2nd quarter. Baillie Gifford & Co. now owns 10,436,977 shares of the company’s stock valued at $661,808,000 after purchasing an additional 536,058 shares during the last quarter. 87.07% of the stock is owned by institutional investors and hedge funds.

In other Redfin news, Director Robert J. Mylod, Jr. sold 2,750 shares of the stock in a transaction on Monday, September 20th. The stock was sold at an average price of $48.98, for a total transaction of $134,695.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Glenn Kelman sold 30,000 shares of the stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $49.23, for a total value of $1,476,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,750 shares of company stock worth $4,583,108. Insiders own 6.10% of the company’s stock.

RDFN has been the subject of several research reports. Susquehanna started coverage on Redfin in a report on Friday, August 13th. They issued a “neutral” rating and a $60.00 target price for the company. Piper Sandler reaffirmed a “buy” rating and set a $69.00 price objective on shares of Redfin in a research note on Friday, November 19th. Royal Bank of Canada reduced their price objective on Redfin from $66.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday, November 5th. Evercore ISI reaffirmed a “hold” rating and set a $60.00 price objective on shares of Redfin in a research note on Sunday, November 7th. Finally, Wedbush reduced their price objective on Redfin from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, August 11th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $70.23.

NASDAQ RDFN opened at $42.92 on Thursday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -57.23 and a beta of 1.72. The company has a current ratio of 3.11, a quick ratio of 2.04 and a debt-to-equity ratio of 3.82. The business’s 50 day moving average is $49.55 and its two-hundred day moving average is $53.69. Redfin Co. has a 12-month low of $40.11 and a 12-month high of $98.44.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Thursday, November 4th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The firm had revenue of $540.10 million during the quarter, compared to analyst estimates of $535.11 million. Redfin had a negative return on equity of 17.39% and a negative net margin of 4.50%. The business’s revenue was up 128.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. Equities analysts forecast that Redfin Co. will post -1.01 earnings per share for the current fiscal year.

Redfin Profile

Redfin Corp. provides real estate brokerage services. The firm engages in buying and selling homes. It operates through the following segments: Real Estate Services and Properties. The Real Estate Services segment consists of revenue transactions. The Properties segment consists of home purchase costs, capitalized improvements, selling expenses and home maintenance expenses.

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Institutional Ownership by Quarter for Redfin (NASDAQ:RDFN)

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