HST Ventures LLC Takes $4.09 Million Position in Redfin Co. (NASDAQ:RDFN)

HST Ventures LLC acquired a new stake in shares of Redfin Co. (NASDAQ:RDFN) in the fourth quarter, Holdings Channel.com reports. The firm acquired 395,900 shares of the company’s stock, valued at approximately $4,086,000. Redfin makes up about 1.4% of HST Ventures LLC’s investment portfolio, making the stock its 21st largest position.

Other large investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. grew its stake in Redfin by 2.5% during the first quarter. Brown Brothers Harriman & Co. now owns 41,236 shares of the company’s stock worth $744,000 after buying an additional 1,000 shares during the last quarter. First Trust Advisors LP grew its stake in Redfin by 8.3% during the first quarter. First Trust Advisors LP now owns 16,522 shares of the company’s stock worth $298,000 after buying an additional 1,270 shares during the last quarter. ProShare Advisors LLC grew its stake in Redfin by 10.6% during the second quarter. ProShare Advisors LLC now owns 13,834 shares of the company’s stock worth $172,000 after buying an additional 1,324 shares during the last quarter. Principal Financial Group Inc. grew its stake in Redfin by 12.6% during the fourth quarter. Principal Financial Group Inc. now owns 12,631 shares of the company’s stock worth $130,000 after buying an additional 1,411 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Redfin by 4.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 43,255 shares of the company’s stock valued at $183,000 after purchasing an additional 1,830 shares during the last quarter. Institutional investors and hedge funds own 78.59% of the company’s stock.

Insider Activity at Redfin

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RDFN. Gordon Haskett cut shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price target on the stock. in a research note on Thursday, February 29th. Wedbush reissued a “neutral” rating and set a $8.00 price target on shares of Redfin in a research note on Wednesday, February 28th. Royal Bank of Canada cut their price objective on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. B. Riley started coverage on shares of Redfin in a report on Friday, December 8th. They issued a “neutral” rating and a $8.00 price objective on the stock. Finally, Citigroup cut their price objective on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.06.

Redfin Stock Down 4.9 %

Shares of NASDAQ:RDFN traded down $0.31 during midday trading on Friday, reaching $6.01. 10,015,715 shares of the company were exchanged, compared to its average volume of 5,273,302. Redfin Co. has a fifty-two week low of $4.26 and a fifty-two week high of $17.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91. The stock has a fifty day simple moving average of $7.79 and a two-hundred day simple moving average of $7.61. The firm has a market cap of $716.63 million, a PE ratio of -5.09 and a beta of 2.67.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The business had revenue of $218.08 million for the quarter, compared to analyst estimates of $220.32 million. During the same period last year, the business posted ($0.83) earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts forecast that Redfin Co. will post -1.28 earnings per share for the current year.

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.