Ensign Peak Advisors Inc bought a new position in Redfin Co. (NASDAQ:RDFN – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 79,700 shares of the company’s stock, valued at approximately $479,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Seven Eight Capital LP acquired a new position in Redfin in the 2nd quarter valued at approximately $162,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Redfin during the second quarter worth approximately $108,000. Headlands Technologies LLC raised its stake in Redfin by 61.8% during the 2nd quarter. Headlands Technologies LLC now owns 54,288 shares of the company’s stock valued at $326,000 after purchasing an additional 20,737 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Redfin by 5.4% during the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock worth $201,000 after purchasing an additional 1,710 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Redfin by 12.2% during the second quarter. Rhumbline Advisers now owns 177,096 shares of the company’s stock valued at $1,064,000 after buying an additional 19,229 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors.
Redfin Price Performance
Shares of Redfin stock opened at $12.51 on Monday. Redfin Co. has a 1-year low of $4.26 and a 1-year high of $15.29. The firm’s 50-day moving average price is $9.73 and its two-hundred day moving average price is $7.54. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 295.91. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -10.51 and a beta of 2.66.
Insider Activity
In other Redfin news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the sale, the insider now owns 71,720 shares of the company’s stock, valued at approximately $663,410. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
RDFN has been the topic of several research reports. DA Davidson restated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research note on Wednesday, July 3rd. B. Riley upgraded Redfin from a “neutral” rating to a “buy” rating and upped their target price for the company from $7.50 to $13.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Wedbush reissued a “neutral” rating and issued a $8.00 price target on shares of Redfin in a report on Wednesday, August 7th. Finally, Susquehanna lowered their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.68.
Read Our Latest Analysis on Redfin
Redfin Company Profile
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.
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