Point72 DIFC Ltd Has $69,000 Stock Position in Redfin Co. (NASDAQ:RDFN)

Point72 DIFC Ltd lessened its holdings in Redfin Co. (NASDAQ:RDFN) by 76.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,477 shares of the company’s stock after selling 37,999 shares during the period. Point72 DIFC Ltd’s holdings in Redfin were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Ensign Peak Advisors Inc bought a new stake in shares of Redfin during the 2nd quarter worth about $479,000. Seven Eight Capital LP acquired a new stake in Redfin in the 2nd quarter worth approximately $162,000. Vanguard Personalized Indexing Management LLC bought a new stake in Redfin during the second quarter worth approximately $108,000. Headlands Technologies LLC raised its position in shares of Redfin by 61.8% in the second 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 period. Finally, Arizona State Retirement System raised its position in shares of Redfin by 5.4% in the second 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. 61.07% of the stock is owned by institutional investors and hedge funds.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $12.51 on Friday. The firm has a market capitalization of $1.52 billion, a PE ratio of -10.51 and a beta of 2.66. 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 1-year low of $4.26 and a 1-year high of $15.29. The business’s 50 day moving average is $9.73 and its 200-day moving average is $7.53.

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

Insider Activity

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the firm’s 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 completion of the transaction, the insider now owns 71,720 shares in the company, valued at $663,410. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. 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. Susquehanna lowered their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research report on Wednesday, August 7th. B. Riley upgraded Redfin from a “neutral” rating to a “buy” rating and increased their target price for the company from $7.50 to $13.00 in a research note on Tuesday, September 3rd. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Redfin currently has a consensus rating of “Hold” and an average target price of $7.68.

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.