Headlands Technologies LLC Takes Position in Redfin Co. (NASDAQ:RDFN)

Headlands Technologies LLC bought a new stake in Redfin Co. (NASDAQ:RDFN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 81,805 shares of the company’s stock, valued at approximately $844,000. Headlands Technologies LLC owned about 0.07% of Redfin at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RDFN. DekaBank Deutsche Girozentrale acquired a new position in shares of Redfin during the 3rd quarter valued at about $27,000. Allspring Global Investments Holdings LLC increased its position in Redfin by 41.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,442 shares of the company’s stock worth $74,000 after purchasing an additional 3,041 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in Redfin in the 3rd quarter valued at $82,000. Seven Eight Capital LP acquired a new stake in shares of Redfin in the third quarter valued at about $86,000. Finally, Numerai GP LLC acquired a new stake in shares of Redfin during the third quarter valued at about $126,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Trading Up 8.5 %

Shares of NASDAQ:RDFN traded up $0.44 on Friday, reaching $5.62. 3,939,823 shares of the company traded hands, compared to its average volume of 4,185,206. Redfin Co. has a fifty-two week low of $4.26 and a fifty-two week high of $17.68. The company’s 50 day moving average is $6.30 and its 200-day moving average is $7.14. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66.

Redfin (NASDAQ:RDFN) last announced its earnings results on Tuesday, February 27th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The business had revenue of $218.08 million during the quarter, compared to the consensus estimate of $220.32 million. During the same period in the prior year, the business posted ($0.83) earnings per share. Redfin’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Redfin Co. will post -1.31 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on RDFN. Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research note on Wednesday, February 28th. Gordon Haskett cut shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price objective on the stock. in a report on Thursday, February 29th. Royal Bank of Canada reduced their price objective on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. DA Davidson reiterated a “neutral” rating and set a $6.75 price target on shares of Redfin in a research report on Friday, March 22nd. Finally, Citigroup reduced their price target on Redfin from $10.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.92.

Insider Activity

In related news, insider Christian John Taubman sold 7,916 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the sale, the insider now directly owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Anna Stevens sold 10,851 shares of Redfin stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the sale, the insider now owns 15,477 shares of the company’s stock, valued at $104,934.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $6.90, for a total value of $54,620.40. Following the sale, the insider now owns 52,117 shares of the company’s stock, valued at $359,607.30. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

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.