Assenagon Asset Management S.A. Has $1.85 Million Holdings in Redfin Co. (NASDAQ:RDFN)

Assenagon Asset Management S.A. lowered its stake in shares of Redfin Co. (NASDAQ:RDFNFree Report) by 78.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 234,604 shares of the company’s stock after selling 857,767 shares during the period. Assenagon Asset Management S.A.’s holdings in Redfin were worth $1,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDFN. Hollencrest Capital Management purchased a new position in shares of Redfin during the third quarter valued at approximately $25,000. Blue Trust Inc. raised its position in Redfin by 285.7% in the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after buying an additional 2,446 shares during the last quarter. Quest Partners LLC bought a new position in Redfin during the 3rd quarter valued at $47,000. DekaBank Deutsche Girozentrale purchased a new position in Redfin during the 3rd quarter worth $48,000. Finally, Algert Global LLC bought a new stake in shares of Redfin in the 2nd quarter worth $72,000. 61.07% of the stock is owned by institutional investors.

Insider Activity at Redfin

In other 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 transaction of $70,955.31. Following the completion of the transaction, the insider now directly owns 29,978 shares in the company, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christian John Taubman sold 16,333 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the transaction, the insider now directly owns 73,466 shares in the company, valued at approximately $620,053.04. The trade was a 18.19 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

Redfin Price Performance

Shares of NASDAQ RDFN opened at $8.12 on Friday. The stock has a market capitalization of $1.01 billion, a PE ratio of -6.34 and a beta of 2.64. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The business’s fifty day moving average price is $8.48 and its 200-day moving average price is $9.33.

Redfin (NASDAQ:RDFNGet Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The firm had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share. As a group, equities analysts expect that Redfin Co. will post -1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley raised their price target on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. lifted their target price on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Wedbush upped their target price on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Citigroup dropped their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, Jefferies Financial Group upped their price objective on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.16.

Get Our Latest Stock Report on RDFN

Redfin Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Redfin (NASDAQ:RDFN)

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