Los Angeles Capital Management LLC Lowers Stock Holdings in Redfin Co. (NASDAQ:RDFN)

Los Angeles Capital Management LLC lowered its stake in Redfin Co. (NASDAQ:RDFN) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,688 shares of the company’s stock after selling 6,500 shares during the period. Los Angeles Capital Management LLC owned 0.09% of Redfin worth $1,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Redfin by 205.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after acquiring an additional 3,101 shares during the last quarter. Swiss National Bank grew its position in Redfin by 1.3% during the 1st quarter. Swiss National Bank now owns 227,500 shares of the company’s stock valued at $1,513,000 after purchasing an additional 2,900 shares during the last quarter. ProShare Advisors LLC increased its stake in Redfin by 9.8% during the 1st quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock valued at $132,000 after purchasing an additional 1,766 shares in the last quarter. Entropy Technologies LP raised its holdings in Redfin by 41.4% in the first quarter. Entropy Technologies LP now owns 80,912 shares of the company’s stock worth $538,000 after buying an additional 23,689 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Redfin by 11.3% in the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after buying an additional 1,953,127 shares in the last quarter. Institutional investors own 61.07% of the company’s stock.

Redfin Price Performance

Shares of Redfin stock opened at $8.71 on Friday. Redfin Co. has a 1-year low of $5.10 and a 1-year high of $15.29. The company’s fifty day simple moving average is $11.14 and its 200-day simple moving average is $8.60. The stock has a market capitalization of $1.08 billion, a PE ratio of -6.80 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last released 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 business had revenue of $278.02 million during the quarter, compared to analyst estimates of $280.21 million. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, research analysts anticipate that Redfin Co. will post -1.18 EPS for the current year.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the sale, the insider now owns 71,720 shares in the company, valued at approximately $663,410. This represents a 4.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RDFN. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Wedbush increased their price objective on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research 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 research report on Monday. 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 report on Monday, September 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.23.

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.