Trexquant Investment LP Has $6.38 Million Holdings in Redfin Co. (NASDAQ:RDFN)

Trexquant Investment LP raised its stake in Redfin Co. (NASDAQ:RDFN) by 208.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 617,880 shares of the company’s stock after acquiring an additional 417,811 shares during the quarter. Trexquant Investment LP owned about 0.54% of Redfin worth $6,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP boosted its stake in shares of Redfin by 342.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 205,033 shares of the company’s stock valued at $1,443,000 after purchasing an additional 158,690 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Redfin by 89.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 360,212 shares of the company’s stock worth $3,717,000 after acquiring an additional 169,654 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Redfin during the 4th quarter worth approximately $206,000. Vanguard Group Inc. boosted its stake in Redfin by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,977,561 shares of the company’s stock worth $112,482,000 after acquiring an additional 192,162 shares during the last quarter. Finally, Jump Financial LLC boosted its stake in Redfin by 19.8% during the 3rd quarter. Jump Financial LLC now owns 372,548 shares of the company’s stock worth $2,623,000 after acquiring an additional 61,559 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Activity

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

Redfin Stock Performance

NASDAQ RDFN traded down $0.13 during trading on Wednesday, hitting $6.67. 355,941 shares of the company’s stock were exchanged, compared to its average volume of 5,145,964. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 295.91. Redfin Co. has a fifty-two week low of $4.26 and a fifty-two week high of $17.68. The stock’s 50 day moving average price is $6.24 and its two-hundred day moving average price is $7.31.

Redfin (NASDAQ:RDFN) last issued its earnings results on Tuesday, May 7th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.01. The firm had revenue of $225.50 million during the quarter, compared to the consensus estimate of $217.79 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.76%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.93) earnings per share. On average, equities research analysts expect that Redfin Co. will post -1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RDFN has been the topic of a number of research reports. Wedbush reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Redfin in a research note on Wednesday, May 8th. Royal Bank of Canada lowered 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. DA Davidson lifted their price objective on shares of Redfin from $6.75 to $7.25 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a report on Thursday, May 16th. Finally, Citigroup lowered their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.08.

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.