Laird Norton Wetherby Wealth Management LLC Has $91,000 Position in Redfin Co. (NASDAQ:RDFN)

Laird Norton Wetherby Wealth Management LLC lowered its stake in shares of Redfin Co. (NASDAQ:RDFN) by 10.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,502 shares of the company’s stock after selling 1,271 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Redfin were worth $91,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Redfin during the fourth quarter valued at about $33,000. US Bancorp DE raised its position in Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after purchasing an additional 1,799 shares in the last quarter. Blue Trust Inc. raised its position in Redfin by 76.3% in the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after purchasing an additional 2,520 shares in the last quarter. AlphaQuest LLC raised its position in Redfin by 87.8% in the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock worth $56,000 after purchasing an additional 3,312 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL raised its position in Redfin by 18,368.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 9,234 shares of the company’s stock worth $73,000 after purchasing an additional 9,184 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Price Performance

Shares of Redfin stock opened at $10.35 on Friday. The firm has a market cap of $1.33 billion, a P/E ratio of -8.09 and a beta of 2.50. The firm has a 50 day simple moving average of $9.58 and a 200 day simple moving average of $8.88. Redfin Co. has a fifty-two week low of $5.49 and a fifty-two week high of $15.29.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.04). The company had revenue of $221.03 million for the quarter, compared to analyst estimates of $220.89 million. Redfin’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.57) earnings per share. On average, sell-side analysts expect that Redfin Co. will post -1.25 EPS for the current year.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction on Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the sale, the insider now owns 74,616 shares of the company’s stock, valued at approximately $831,968.40. The trade was a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RDFN has been the subject of several recent research reports. DA Davidson reissued a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. Stephens dropped their price target on shares of Redfin from $12.50 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Royal Bank of Canada increased their price target on shares of Redfin from $8.00 to $12.50 and gave the stock a “sector perform” rating in a research report on Tuesday, April 15th. Finally, Citigroup increased their price target on shares of Redfin from $7.30 to $9.20 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Redfin has an average rating of “Hold” and a consensus price target of $10.45.

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.