Redfin Co. (NASDAQ:RDFN) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its position in shares of Redfin Co. (NASDAQ:RDFN) by 17.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,675,614 shares of the company’s stock after selling 349,260 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.35% of Redfin worth $20,995,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Assenagon Asset Management S.A. boosted its position in shares of Redfin by 210.7% in the third 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 period. Charles Schwab Investment Management Inc. boosted its stake in shares of Redfin by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after acquiring an additional 92,023 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Redfin by 15.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 446,172 shares of the company’s stock worth $2,681,000 after purchasing an additional 59,689 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Redfin by 12.2% during the 2nd quarter. Rhumbline Advisers now owns 177,096 shares of the company’s stock worth $1,064,000 after purchasing an additional 19,229 shares during the last quarter. 61.07% of the stock is owned by institutional investors.

Redfin Stock Performance

Shares of RDFN stock opened at $9.63 on Thursday. Redfin Co. has a 52-week low of $5.10 and a 52-week high of $15.29. The company has a 50-day simple moving average of $10.25 and a two-hundred day simple moving average of $8.83. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.52 and a beta of 2.63.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share 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 analysts’ expectations of $280.21 million. During the same quarter in the prior year, the business posted ($0.17) EPS. On average, sell-side analysts forecast that Redfin Co. will post -1.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on RDFN. DA Davidson reiterated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research note on Tuesday, November 19th. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and upped their price objective for the company from $6.00 to $6.50 in a research note on Monday, November 18th. JPMorgan Chase & Co. upped their price objective on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Susquehanna increased their price target on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Wedbush increased their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.98.

Insider Activity at Redfin

In other news, insider Anthony Ray Kappus sold 8,417 shares of the 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 completion of the sale, the insider now directly owns 29,978 shares of the company’s stock, valued at $252,714.54. This represents a 21.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

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.