Franklin Resources Inc. Takes $161,000 Position in Redfin Co. (NASDAQ:RDFN)

Franklin Resources Inc. purchased a new position in Redfin Co. (NASDAQ:RDFN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,831 shares of the company’s stock, valued at approximately $161,000.

A number of other hedge funds also recently bought and sold shares of the business. Tidal Investments LLC bought a new stake in shares of Redfin in the 3rd quarter valued at approximately $10,650,000. Geode Capital Management LLC raised its holdings in Redfin by 2.2% during the 3rd 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 period. Y Intercept Hong Kong Ltd bought a new stake in Redfin in the third quarter worth $174,000. XTX Topco Ltd purchased a new position in Redfin during the third quarter worth $455,000. Finally, Zacks Investment Management bought a new position in Redfin during the third quarter valued at $2,108,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Analyst Ratings Changes

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

Redfin Stock Down 1.0 %

Shares of NASDAQ RDFN opened at $7.79 on Friday. The business’s 50 day moving average is $9.19 and its two-hundred day moving average is $9.15. Redfin Co. has a 52-week low of $5.10 and a 52-week high of $15.29. The firm has a market cap of $965.80 million, a price-to-earnings ratio of -6.09 and a beta of 2.63.

Redfin (NASDAQ:RDFN) last released 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 business had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the previous year, the business posted ($0.17) EPS. Analysts anticipate that Redfin Co. will post -1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the company’s 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 $252,714.54. This represents a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christian John Taubman sold 16,333 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total value of $137,850.52. Following the transaction, the insider now owns 73,466 shares in the company, valued at $620,053.04. This represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

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.