Bank of New York Mellon Corp increased its stake in shares of Redfin Corp (NASDAQ:RDFN) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 319,261 shares of the company’s stock after acquiring an additional 5,011 shares during the period. Bank of New York Mellon Corp owned 0.36% of Redfin worth $4,598,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Redfin by 5.3% in the fourth quarter. BlackRock Inc. now owns 5,214,205 shares of the company’s stock valued at $75,084,000 after purchasing an additional 260,358 shares during the period. California Public Employees Retirement System grew its holdings in Redfin by 233.4% during the 4th quarter. California Public Employees Retirement System now owns 152,126 shares of the company’s stock worth $2,191,000 after acquiring an additional 106,500 shares during the period. Eaton Vance Management grew its holdings in Redfin by 73.9% during the 4th quarter. Eaton Vance Management now owns 38,484 shares of the company’s stock worth $554,000 after acquiring an additional 16,350 shares during the period. Parkwood LLC grew its holdings in Redfin by 18.4% during the 4th quarter. Parkwood LLC now owns 20,333 shares of the company’s stock worth $293,000 after acquiring an additional 3,153 shares during the period. Finally, TD Asset Management Inc. grew its holdings in Redfin by 3.4% during the 4th quarter. TD Asset Management Inc. now owns 111,720 shares of the company’s stock worth $1,609,000 after acquiring an additional 3,663 shares during the period. 94.81% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Selina Tobaccowala sold 1,710 shares of the stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $18.00, for a total transaction of $30,780.00. Following the transaction, the director now owns 17,302 shares of the company’s stock, valued at approximately $311,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bridget Frey sold 5,000 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $18.00, for a total transaction of $90,000.00. Following the transaction, the insider now directly owns 42,932 shares in the company, valued at approximately $772,776. The disclosure for this sale can be found here. Insiders have sold a total of 79,683 shares of company stock worth $1,598,387 in the last three months. Insiders own 8.80% of the company’s stock.

A number of analysts have weighed in on RDFN shares. BidaskClub upgraded Redfin from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 27th. Piper Jaffray Companies upgraded Redfin from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $17.00 to $26.00 in a report on Monday, April 1st. Zacks Investment Research downgraded Redfin from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. Cowen reiterated a “buy” rating and set a $21.00 price target on shares of Redfin in a report on Monday, February 4th. Finally, DA Davidson downgraded Redfin from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $17.00 to $15.50 in a report on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.44.

RDFN stock opened at $22.24 on Tuesday. The stock has a market cap of $2.06 billion, a PE ratio of -45.39 and a beta of 0.92. The company has a current ratio of 10.74, a quick ratio of 10.25 and a debt-to-equity ratio of 0.31. Redfin Corp has a 1 year low of $13.50 and a 1 year high of $26.01.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, February 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. The company had revenue of $124.10 million for the quarter, compared to analysts’ expectations of $117.15 million. Redfin had a negative net margin of 8.62% and a negative return on equity of 14.24%. The business’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) EPS. As a group, sell-side analysts expect that Redfin Corp will post -0.87 EPS for the current fiscal year.

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About Redfin

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

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Institutional Ownership by Quarter for Redfin (NASDAQ:RDFN)

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