SG Americas Securities LLC Sells 299,599 Shares of Redfin Co. (NASDAQ:RDFN)

SG Americas Securities LLC trimmed its position in Redfin Co. (NASDAQ:RDFN) by 96.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,926 shares of the company’s stock after selling 299,599 shares during the period. SG Americas Securities LLC’s holdings in Redfin were worth $113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new stake in Redfin in the third quarter valued at approximately $27,000. Point72 Middle East FZE acquired a new position in Redfin during the fourth quarter worth $41,000. Guggenheim Capital LLC bought a new position in shares of Redfin in the third quarter valued at $60,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Redfin by 41.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,442 shares of the company’s stock valued at $74,000 after buying an additional 3,041 shares during the last quarter. Finally, CI Private Wealth LLC bought a new stake in shares of Redfin during the fourth quarter worth about $75,000. 61.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 7,916 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the sale, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Anna Stevens sold 10,851 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 15,477 shares in the company, valued at approximately $104,934.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction 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 disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Redfin Price Performance

RDFN opened at $5.20 on Friday. Redfin Co. has a fifty-two week low of $4.26 and a fifty-two week high of $17.68. The firm has a 50-day moving average of $6.49 and a 200 day moving average of $7.18. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $620.05 million, a P/E ratio of -4.44 and a beta of 2.66.

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

Analysts Set New Price Targets

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

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.