Zurcher Kantonalbank Zurich Cantonalbank Purchases 5,892 Shares of Redfin Co. (NASDAQ:RDFN)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Redfin Co. (NASDAQ:RDFN) by 30.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,218 shares of the company’s stock after purchasing an additional 5,892 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Redfin were worth $260,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Redfin by 1.2% during the third quarter. Vanguard Group Inc. now owns 15,977,561 shares of the company’s stock valued at $112,482,000 after buying an additional 192,162 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Redfin by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 856,087 shares of the company’s stock valued at $6,027,000 after acquiring an additional 39,468 shares during the period. Bank of New York Mellon Corp boosted its holdings in Redfin by 17.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 544,842 shares of the company’s stock valued at $3,836,000 after acquiring an additional 82,724 shares during the period. Qube Research & Technologies Ltd grew its position in Redfin by 144.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 499,577 shares of the company’s stock worth $3,517,000 after acquiring an additional 294,802 shares during the last quarter. Finally, Jump Financial LLC increased its stake in Redfin by 19.8% in the 3rd quarter. Jump Financial LLC now owns 372,548 shares of the company’s stock worth $2,623,000 after purchasing an additional 61,559 shares during the period. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Price Performance

RDFN opened at $6.46 on Tuesday. The firm has a market cap of $771.78 million, a PE ratio of -5.52 and a beta of 2.68. The stock has a 50-day moving average price of $6.15 and a 200-day moving average price of $7.15. Redfin Co. has a 1 year low of $4.26 and a 1 year high of $17.68. 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 issued its earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $220.32 million. During the same period in the previous year, the company earned ($0.83) earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Redfin Co. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RDFN. Royal Bank of Canada cut their target price 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. 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 research report on Thursday, February 29th. DA Davidson reiterated a “neutral” rating and set a $6.75 target price on shares of Redfin in a report on Friday, March 22nd. Citigroup reduced their price target on Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.03.

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.