Vanguard Personalized Indexing Management LLC Makes New Investment in Redfin Co. (NASDAQ:RDFN)

Vanguard Personalized Indexing Management LLC bought a new stake in Redfin Co. (NASDAQ:RDFN) during the second quarter, Holdings Channel reports. The institutional investor bought 17,896 shares of the company’s stock, valued at approximately $108,000.

A number of other large investors also recently made changes to their positions in the business. Arizona State Retirement System increased its holdings in shares of Redfin by 5.4% in the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock valued at $201,000 after purchasing an additional 1,710 shares during the period. ProShare Advisors LLC increased its holdings in shares of Redfin by 9.8% in the 1st quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock valued at $132,000 after purchasing an additional 1,766 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Redfin by 17.7% in the 1st quarter. Principal Financial Group Inc. now owns 14,872 shares of the company’s stock valued at $99,000 after purchasing an additional 2,241 shares during the period. Mather Group LLC. increased its holdings in shares of Redfin by 282.1% in the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after purchasing an additional 2,821 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Redfin by 1.3% in the 1st quarter. Swiss National Bank now owns 227,500 shares of the company’s stock valued at $1,513,000 after purchasing an additional 2,900 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.40% of the company’s stock.

Redfin Stock Up 0.2 %

Shares of Redfin stock opened at $12.53 on Tuesday. The stock has a market capitalization of $1.53 billion, a P/E ratio of -10.53 and a beta of 2.66. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 295.91. The stock has a 50 day moving average price of $9.82 and a two-hundred day moving average price of $7.58. Redfin Co. has a 12-month low of $4.26 and a 12-month high of $15.29.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on RDFN. Susquehanna dropped their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. DA Davidson restated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a report on Wednesday, July 3rd. B. Riley increased their price objective on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday. Finally, Needham & Company LLC restated a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Redfin has an average rating of “Hold” and an average price target of $7.88.

Redfin 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.