HighTower Advisors LLC cut its position in shares of Redfin Co. (NASDAQ:RDFN – Free Report) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 269,517 shares of the company’s stock after selling 3,149 shares during the quarter. HighTower Advisors LLC’s holdings in Redfin were worth $3,451,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDFN. Centiva Capital LP raised its stake in shares of Redfin by 318.9% in the third quarter. Centiva Capital LP now owns 140,675 shares of the company’s stock valued at $1,763,000 after acquiring an additional 107,097 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Redfin by 476.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock worth $10,018,000 after acquiring an additional 660,872 shares during the period. Quantbot Technologies LP grew its holdings in Redfin by 331.9% during the 3rd quarter. Quantbot Technologies LP now owns 113,450 shares of the company’s stock worth $1,422,000 after acquiring an additional 87,184 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in Redfin by 169.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 40,773 shares of the company’s stock worth $511,000 after acquiring an additional 25,652 shares during the period. Finally, Cerity Partners LLC grew its holdings in Redfin by 13.0% during the 3rd quarter. Cerity Partners LLC now owns 36,096 shares of the company’s stock worth $452,000 after acquiring an additional 4,157 shares during the period. Institutional investors own 61.07% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on RDFN shares. DA Davidson reissued a “neutral” rating and issued a $7.25 price target on shares of Redfin in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Susquehanna increased their price objective on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Wedbush raised their target price on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, B. Riley increased their price target on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Redfin has an average rating of “Hold” and a consensus target price of $8.98.
Redfin Price Performance
Shares of NASDAQ:RDFN opened at $9.63 on Thursday. The company’s 50 day simple moving average is $9.92 and its 200 day simple moving average is $8.95. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.52 and a beta of 2.63. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29.
Redfin (NASDAQ:RDFN – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The company had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same quarter last year, the business earned ($0.17) earnings per share. As a group, analysts anticipate that Redfin Co. will post -1.25 EPS for the current fiscal year.
Insider Transactions at Redfin
In related news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total value of $70,955.31. Following the transaction, the insider now owns 29,978 shares in the company, valued at $252,714.54. The trade was a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.40% of the stock is owned by company insiders.
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.
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