Susquehanna Portfolio Strategies LLC Sells 8,099 Shares of Redfin Co. (NASDAQ:RDFN)

Susquehanna Portfolio Strategies LLC decreased its holdings in Redfin Co. (NASDAQ:RDFN) by 6.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,859 shares of the company’s stock after selling 8,099 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Redfin were worth $660,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Redfin by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 885,705 shares of the company’s stock valued at $9,140,000 after buying an additional 29,618 shares in the last quarter. Vanguard Group Inc. increased its holdings in Redfin by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 17,238,307 shares of the company’s stock valued at $177,899,000 after acquiring an additional 1,260,746 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in Redfin in the 4th quarter valued at $552,000. Allspring Global Investments Holdings LLC lifted its stake in Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after purchasing an additional 3,101 shares in the last quarter. Finally, CAP Partners LLC boosted its holdings in shares of Redfin by 18.5% during the 1st quarter. CAP Partners LLC now owns 31,633 shares of the company’s stock valued at $210,000 after purchasing an additional 4,939 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Price Performance

RDFN stock opened at $12.51 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 295.91. Redfin Co. has a 12 month low of $4.26 and a 12 month high of $15.29. The stock has a market cap of $1.52 billion, a PE ratio of -10.51 and a beta of 2.66. The company has a 50-day moving average price of $9.73 and a 200 day moving average price of $7.53.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.03. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The firm had revenue of $295.20 million for the quarter, compared to the consensus estimate of $291.59 million. During the same period in the prior year, the business posted ($0.25) earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Redfin Co. will post -1.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the sale, the insider now directly owns 71,720 shares of the company’s stock, valued at $663,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RDFN shares. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 target price on shares of Redfin in a report on Wednesday, July 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. B. Riley raised shares of Redfin from a “neutral” rating to a “buy” rating and raised their target price for the company from $7.50 to $13.00 in a report on Tuesday, September 3rd. Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research report on Wednesday, August 7th. Finally, Susquehanna dropped their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.68.

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.