American Century Companies Inc. Sells 105,990 Shares of Redfin Co. (NASDAQ:RDFN)

American Century Companies Inc. decreased its holdings in Redfin Co. (NASDAQ:RDFN) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,505,147 shares of the company’s stock after selling 105,990 shares during the period. American Century Companies Inc. owned approximately 1.26% of Redfin worth $9,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC grew its position in Redfin by 61.8% during the 2nd quarter. Headlands Technologies LLC now owns 54,288 shares of the company’s stock worth $326,000 after acquiring an additional 20,737 shares during the last quarter. Arizona State Retirement System grew its position in shares of Redfin by 5.4% in the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock valued at $201,000 after buying an additional 1,710 shares during the last quarter. Rhumbline Advisers grew its position in shares of Redfin by 12.2% in the 2nd quarter. Rhumbline Advisers now owns 177,096 shares of the company’s stock valued at $1,064,000 after buying an additional 19,229 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Redfin by 15.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 446,172 shares of the company’s stock valued at $2,681,000 after buying an additional 59,689 shares during the last quarter. Finally, CAP Partners LLC grew its position in shares of Redfin by 14.6% in the 2nd quarter. CAP Partners LLC now owns 36,257 shares of the company’s stock valued at $218,000 after buying an additional 4,624 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the sale, the insider now directly owns 71,720 shares of the company’s stock, valued at approximately $663,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RDFN shares. Susquehanna reduced their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. DA Davidson reissued a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research note on Wednesday, July 3rd. Wedbush reissued a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday, August 7th. Finally, B. Riley raised Redfin from a “neutral” rating to a “buy” rating and upped their price target for the stock from $7.50 to $13.00 in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.68.

Redfin Stock Performance

Shares of RDFN opened at $13.38 on Monday. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a 50 day moving average price of $9.29 and a two-hundred day moving average price of $7.34. The firm has a market capitalization of $1.63 billion, a P/E ratio of -11.24 and a beta of 2.66. Redfin Co. has a 52 week low of $4.26 and a 52 week high of $15.29.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The firm had revenue of $295.20 million during the quarter, compared to analyst estimates of $291.59 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) EPS. Equities analysts forecast that Redfin Co. will post -1.13 earnings per share for the current fiscal year.

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.