Quantinno Capital Management LP Buys Shares of 10,753 Redfin Co. (NASDAQ:RDFN)

Quantinno Capital Management LP purchased a new position in shares of Redfin Co. (NASDAQ:RDFN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,753 shares of the company’s stock, valued at approximately $135,000.

Several other institutional investors have also recently made changes to their positions in the company. Centiva Capital LP increased its stake in 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 acquiring an additional 107,097 shares during the last quarter. BNP Paribas Financial Markets increased its position 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 purchasing an additional 660,872 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Redfin by 331.9% during the 3rd quarter. Quantbot Technologies LP now owns 113,450 shares of the company’s stock worth $1,422,000 after purchasing an additional 87,184 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Redfin by 169.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 40,773 shares of the company’s stock valued at $511,000 after buying an additional 25,652 shares during the period. Finally, Cerity Partners LLC lifted its position in Redfin by 13.0% in the third quarter. Cerity Partners LLC now owns 36,096 shares of the company’s stock valued at $452,000 after buying an additional 4,157 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and boosted their price target for the company from $6.00 to $6.50 in a research note on Monday, November 18th. Jefferies Financial Group boosted their price target on shares of Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Susquehanna lifted their target price on shares of Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.98.

Insider Transactions 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 transaction, 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 filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by insiders.

Redfin Price Performance

NASDAQ:RDFN opened at $8.79 on Wednesday. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The company has a fifty day moving average price of $9.78 and a 200 day moving average price of $9.05. The stock has a market cap of $1.09 billion, a P/E ratio of -6.87 and a beta of 2.63.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The firm had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same period in the prior year, the company earned ($0.17) earnings per share. As a group, equities research analysts anticipate that Redfin Co. will post -1.25 EPS for the current 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.