BNP Paribas Financial Markets Buys 660,872 Shares of Redfin Co. (NASDAQ:RDFN)

BNP Paribas Financial Markets raised its position in shares of Redfin Co. (NASDAQ:RDFN) by 476.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 799,523 shares of the company’s stock after buying an additional 660,872 shares during the period. BNP Paribas Financial Markets’ holdings in Redfin were worth $10,018,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RDFN. Assenagon Asset Management S.A. boosted its position 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 worth $13,687,000 after purchasing an additional 740,759 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Redfin by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after acquiring an additional 92,023 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Redfin by 15.4% during the second quarter. Bank of New York Mellon Corp now owns 446,172 shares of the company’s stock worth $2,681,000 after acquiring an additional 59,689 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Redfin by 12.2% during the second quarter. Rhumbline Advisers now owns 177,096 shares of the company’s stock worth $1,064,000 after acquiring an additional 19,229 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in shares of Redfin by 53.2% during the third quarter. GSA Capital Partners LLP now owns 139,203 shares of the company’s stock valued at $1,744,000 after acquiring an additional 48,313 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $70,955.31. Following the completion of the transaction, the insider now owns 29,978 shares in the company, valued at $252,714.54. This represents a 21.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RDFN. 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. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and upped their target price for the company from $6.00 to $6.50 in a research report on Monday, November 18th. Susquehanna increased their price target on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. DA Davidson restated a “neutral” rating and set a $7.25 price objective on shares of Redfin in a research note on Tuesday, November 19th. Finally, B. Riley increased their price objective on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.98.

Redfin Trading Down 1.8 %

Shares of RDFN opened at $9.49 on Monday. The firm has a market cap of $1.18 billion, a P/E ratio of -7.41 and a beta of 2.70. Redfin Co. has a 12 month low of $5.10 and a 12 month high of $15.29. The stock’s 50 day moving average is $10.38 and its two-hundred day moving average is $8.80.

Redfin (NASDAQ:RDFN) last announced its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The firm had revenue of $278.02 million during the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter last year, the business earned ($0.17) EPS. Equities research analysts forecast that Redfin Co. will post -1.23 EPS for the current year.

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.