Clarius Group LLC Cuts Stake in Redfin Co. (NASDAQ:RDFN)

Clarius Group LLC cut its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 2.0% during the 4th quarter, HoldingsChannel reports. The fund owned 131,900 shares of the company’s stock after selling 2,654 shares during the quarter. Clarius Group LLC’s holdings in Redfin were worth $1,038,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RDFN. Hennessy Advisors Inc. purchased a new position in Redfin in the 4th quarter worth $40,109,000. Geode Capital Management LLC grew its stake in shares of Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after buying an additional 66,018 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Redfin by 124.9% in the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after buying an additional 1,193,900 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Redfin by 210.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock valued at $13,687,000 after acquiring an additional 740,759 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Redfin by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after acquiring an additional 92,023 shares during the period. 61.07% of the stock is currently owned by institutional investors.

Redfin Stock Performance

Redfin stock opened at $7.69 on Friday. Redfin Co. has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The stock’s 50 day simple moving average is $8.59 and its two-hundred day simple moving average is $9.30. The stock has a market cap of $953.41 million, a price-to-earnings ratio of -6.01 and a beta of 2.64.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results 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 company had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the previous year, the company earned ($0.17) EPS. On average, analysts predict that Redfin Co. will post -1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

RDFN has been the subject of several recent research reports. Susquehanna boosted their price objective on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Tuesday, November 19th. JPMorgan Chase & Co. raised 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. Jefferies Financial Group upped their price objective on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Wedbush raised their target price on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.16.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 16,333 shares of Redfin 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 completion of the transaction, the insider now directly owns 73,466 shares in the company, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony Ray Kappus sold 8,417 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the completion of the sale, the insider now owns 29,978 shares in the company, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The disclosure for this sale can be found here. 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.