79,700 Shares in Redfin Co. (NASDAQ:RDFN) Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc bought a new position in Redfin Co. (NASDAQ:RDFN) 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.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. Redfin’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.25) EPS. On average, equities analysts predict that Redfin Co. will post -1.13 earnings per share for the current fiscal year.

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.

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.