Pinnacle Wealth Planning Services Inc. Has $79,000 Stock Holdings in Redfin Co. (NASDAQ:RDFN)

Pinnacle Wealth Planning Services Inc. cut its stake in Redfin Co. (NASDAQ:RDFN) by 44.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,009 shares of the company’s stock after selling 8,097 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Redfin were worth $79,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Redfin during the fourth quarter valued at about $27,000. 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 shares of Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after buying an additional 1,799 shares during the last quarter. Blue Trust Inc. raised its position in shares of Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after buying an additional 2,520 shares during the last quarter. Finally, AlphaQuest LLC raised its position in shares of Redfin by 87.8% during the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock valued at $56,000 after buying an additional 3,312 shares during the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 74,616 shares of the company’s stock, valued at $831,968.40. This represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is owned by insiders.

Redfin Trading Down 1.1%

NASDAQ RDFN opened at $10.09 on Thursday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -7.88 and a beta of 2.50. The company has a 50 day moving average of $9.43 and a 200-day moving average of $8.86. Redfin Co. has a 1-year low of $5.49 and a 1-year high of $15.29.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The firm had revenue of $221.03 million for the quarter, compared to the consensus estimate of $220.89 million. During the same period last year, the firm posted ($0.57) earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts forecast that Redfin Co. will post -1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RDFN has been the subject of a number of research analyst reports. B. Riley lowered shares of Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. increased their price target on shares of Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Susquehanna dropped their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Finally, 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.