Sequoia Financial Advisors LLC Makes New Investment in Redfin Co. (NASDAQ:RDFN)

Sequoia Financial Advisors LLC acquired a new position in Redfin Co. (NASDAQ:RDFN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,205 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RDFN. AlphaCrest Capital Management LLC purchased a new stake in Redfin in the first quarter worth about $436,000. Bank of Montreal Can grew its holdings in shares of Redfin by 207.7% during the first quarter. Bank of Montreal Can now owns 18,905 shares of the company’s stock valued at $357,000 after buying an additional 12,762 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Redfin by 55.8% during the first quarter. MetLife Investment Management LLC now owns 55,652 shares of the company’s stock valued at $1,004,000 after buying an additional 19,937 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Redfin by 1.9% during the first quarter. Rhumbline Advisers now owns 113,151 shares of the company’s stock valued at $2,041,000 after buying an additional 2,083 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Redfin by 2.5% during the first quarter. Brown Brothers Harriman & Co. now owns 41,236 shares of the company’s stock valued at $744,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RDFN shares. Gordon Haskett cut shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price target on the stock. in a report on Thursday, February 29th. Royal Bank of Canada cut their price target on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research report on Wednesday, February 28th. DA Davidson restated a “neutral” rating and set a $6.75 price objective on shares of Redfin in a research report on Friday, March 22nd. Finally, Citigroup lowered their price objective on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, Redfin currently has a consensus rating of “Hold” and a consensus price target of $7.92.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 7,916 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the sale, the insider now directly owns 52,117 shares of the company’s stock, valued at $359,607.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the transaction, the insider now directly owns 15,477 shares of the company’s stock, valued at $104,934.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christian John Taubman sold 7,916 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the transaction, the insider now directly owns 52,117 shares of the company’s stock, valued at $359,607.30. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Redfin Stock Down 2.1 %

RDFN opened at $5.20 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91. Redfin Co. has a 1-year low of $4.26 and a 1-year high of $17.68. The firm’s 50 day simple moving average is $6.49 and its two-hundred day simple moving average is $7.18.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The firm had revenue of $218.08 million during the quarter, compared to analysts’ expectations of $220.32 million. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.83) earnings per share. As a group, equities research analysts expect that Redfin Co. will post -1.31 EPS for the current year.

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.