Assenagon Asset Management S.A. Sells 857,767 Shares of Redfin Co. (NASDAQ:RDFN)

Assenagon Asset Management S.A. lessened its position in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 78.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,604 shares of the company's stock after selling 857,767 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.19% of Redfin worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning grew its stake in shares of Redfin by 8.1% in the 3rd quarter. Creative Planning now owns 15,826 shares of the company's stock valued at $198,000 after purchasing an additional 1,181 shares during the period. Hollencrest Capital Management bought a new stake in Redfin in the third quarter valued at $25,000. Financial Advocates Investment Management raised its stake in Redfin by 21.6% during the third quarter. Financial Advocates Investment Management now owns 11,815 shares of the company's stock worth $148,000 after acquiring an additional 2,100 shares in the last quarter. Blue Trust Inc. raised its stake in Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company's stock worth $41,000 after acquiring an additional 2,446 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Redfin by 45.6% during the third quarter. CWM LLC now owns 8,725 shares of the company's stock valued at $109,000 after acquiring an additional 2,734 shares during the period. 61.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Redfin

In related news, insider Anthony Ray Kappus sold 8,417 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 29,978 shares in the company, valued at $252,714.54. This trade represents a 21.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christian John Taubman sold 16,333 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total transaction of $137,850.52. Following the transaction, the insider now owns 73,466 shares of the company's stock, valued at approximately $620,053.04. This represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

RDFN has been the subject of a number of recent analyst reports. DA Davidson reiterated a "neutral" rating and set a $7.25 target price on shares of Redfin in a research report on Tuesday, November 19th. Wedbush raised their price objective on shares of Redfin from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Susquehanna boosted their target price on Redfin from $7.00 to $10.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on Redfin from $7.00 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Finally, B. Riley lifted their price objective on Redfin from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.16.

Redfin Stock Down 2.7 %

RDFN stock traded down $0.22 during midday trading on Friday, reaching $7.90. The stock had a trading volume of 4,524,479 shares, compared to its average volume of 4,295,863. The firm has a market cap of $979.44 million, a price-to-earnings ratio of -6.17 and a beta of 2.64. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The business has a fifty day simple moving average of $8.47 and a two-hundred day simple moving average of $9.34.

Redfin (NASDAQ:RDFN - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) 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 period last year, the company posted ($0.17) EPS. On average, equities analysts predict that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

About Redfin

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.