Redfin Co. (NASDAQ:RDFN) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 269,517 shares of the company’s stock after selling 3,149 shares during the period. HighTower Advisors LLC owned 0.22% of Redfin worth $3,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Assenagon Asset Management S.A. grew its stake in Redfin by 210.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock worth $13,687,000 after buying an additional 740,759 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Redfin by 476.6% in the third quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock valued at $10,018,000 after buying an additional 660,872 shares in the last quarter. Centiva Capital LP boosted 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 buying an additional 107,097 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after purchasing an additional 92,023 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in Redfin by 331.9% during the third quarter. Quantbot Technologies LP now owns 113,450 shares of the company’s stock worth $1,422,000 after purchasing an additional 87,184 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Price Performance

Shares of RDFN stock opened at $9.63 on Thursday. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.52 and a beta of 2.63. The business has a 50 day simple moving average of $9.92 and a 200 day simple moving average of $8.95.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results 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 business had revenue of $278.02 million during the quarter, compared to analysts’ expectations of $280.21 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. On average, equities analysts anticipate that Redfin Co. will post -1.25 EPS for the current fiscal year.

Insider Transactions at Redfin

In other news, insider Anthony Ray Kappus sold 8,417 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the completion of the sale, the insider now owns 29,978 shares in the company, valued at $252,714.54. This represents a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RDFN shares. Jefferies Financial Group boosted their price target on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Susquehanna upped their target price on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Wedbush boosted their price target on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group downgraded Redfin from a “neutral” rating to a “sell” rating and upped their target price for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Finally, B. Riley upped their target price on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.98.

Redfin 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.