Redfin Co. (NASDAQ:RDFN) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,022,948 shares of the company's stock after acquiring an additional 66,018 shares during the quarter. Geode Capital Management LLC owned approximately 2.44% of Redfin worth $37,884,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Two Sigma Advisers LP boosted its holdings in Redfin by 124.9% in the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company's stock valued at $26,938,000 after purchasing an additional 1,193,900 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of 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 holdings in shares of Redfin by 476.6% in the 3rd 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. Zacks Investment Management purchased a new position in shares of Redfin in the 3rd quarter valued at $2,108,000. Finally, Centiva Capital LP grew its holdings in shares of Redfin by 318.9% during the third quarter. Centiva Capital LP now owns 140,675 shares of the company's stock worth $1,763,000 after purchasing an additional 107,097 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company's stock.

Redfin Stock Performance

Shares of RDFN traded down $0.19 during trading hours on Wednesday, hitting $8.35. The stock had a trading volume of 1,845,416 shares, compared to its average volume of 5,483,569. The company's fifty day simple moving average is $9.49 and its 200 day simple moving average is $9.10. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29. The firm has a market cap of $1.04 billion, a P/E ratio of -6.52 and a beta of 2.63.

Redfin (NASDAQ:RDFN - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. As a group, sell-side analysts predict that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Anthony Ray Kappus sold 8,417 shares of the company's stock in a transaction dated 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 owns 29,978 shares in the company, valued at approximately $252,714.54. This represents a 21.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Redfin from $7.50 to $11.50 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Wedbush lifted their price target on Redfin from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped 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. Susquehanna raised their price target on Redfin from $7.00 to $10.00 and gave the company a "neutral" rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group downgraded Redfin from a "neutral" rating to a "sell" rating and lifted their price objective for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.