DekaBank Deutsche Girozentrale Makes New $48,000 Investment in Redfin Co. (NASDAQ:RDFN)

DekaBank Deutsche Girozentrale bought a new position in shares of Redfin Co. (NASDAQ:RDFN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,875 shares of the company’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RDFN. Vanguard Group Inc. raised its position in shares of Redfin by 11.3% during the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock valued at $127,623,000 after buying an additional 1,953,127 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Redfin by 25.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock valued at $14,450,000 after acquiring an additional 445,486 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in 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. Bank of New York Mellon Corp boosted its holdings in shares of Redfin by 15.4% during 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 purchasing an additional 59,689 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Redfin by 1.3% during the first quarter. Swiss National Bank now owns 227,500 shares of the company’s stock valued at $1,513,000 after purchasing an additional 2,900 shares in the last quarter. Institutional investors own 61.07% of the company’s stock.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $10.44 on Tuesday. The firm has a market capitalization of $1.27 billion, a PE ratio of -8.92 and a beta of 2.70. The business has a 50 day simple moving average of $11.14 and a two-hundred day simple moving average of $8.35. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.03. The business had revenue of $295.20 million during the quarter, compared to the consensus estimate of $291.59 million. During the same period last year, the company earned ($0.25) EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Redfin Co. will post -1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RDFN. JPMorgan Chase & Co. decreased their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Susquehanna reduced their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Wedbush restated a “neutral” rating and issued a $8.00 price target on shares of Redfin in a research report on Wednesday, August 7th. Finally, 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 report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.20.

Insider Activity

In related news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction dated Wednesday, August 21st. The shares were 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 owns 71,720 shares in the company, valued at $663,410. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

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.