American Century Companies Inc. Sells 85,380 Shares of Redfin Co. (NASDAQ:RDFN)

American Century Companies Inc. reduced its stake in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,624,029 shares of the company's stock after selling 85,380 shares during the period. American Century Companies Inc. owned 2.12% of Redfin worth $20,651,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted 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 valued at $12,508,000 after purchasing an additional 92,023 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Redfin during the 3rd quarter valued at $10,650,000. Ballentine Partners LLC purchased a new position in shares of Redfin during the 4th quarter valued at $81,000. Geode Capital Management LLC boosted its holdings in Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company's stock worth $37,884,000 after buying an additional 66,018 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in Redfin in the 4th quarter worth $197,000. 61.07% of the stock is currently owned by institutional investors.

Redfin Stock Performance

RDFN stock traded up $0.04 during midday trading on Thursday, reaching $10.28. 8,676,189 shares of the company traded hands, compared to its average volume of 6,157,906. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -8.03 and a beta of 2.56. Redfin Co. has a 52-week low of $5.10 and a 52-week high of $15.29. The business has a 50 day moving average of $8.87 and a 200-day moving average of $9.42.

Analyst Ratings Changes

RDFN has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a "neutral" rating and issued a $7.25 price objective on shares of Redfin in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lifted their price objective on shares of Redfin from $7.00 to $12.50 and gave the company a "neutral" rating in a research report on Monday, March 24th. Gordon Haskett upgraded shares of Redfin to a "hold" rating in a research report on Monday, March 10th. Citigroup reduced their price target on shares of Redfin from $10.50 to $9.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. Finally, Susquehanna dropped their price objective on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.03.

Insider Activity

In related news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the transaction, the insider now directly owns 74,616 shares of the company's stock, valued at approximately $831,968.40. The trade was a 17.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.40% of the company's stock.

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.