Redfin Co. (NASDAQ:RDFN) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 28.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 171,262 shares of the company’s stock after selling 68,065 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Redfin were worth $2,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning grew its stake in Redfin by 8.1% during the 3rd quarter. Creative Planning now owns 15,826 shares of the company’s stock valued at $198,000 after acquiring an additional 1,181 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Redfin by 5.4% during the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock worth $201,000 after purchasing an additional 1,710 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Redfin by 9.8% in the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock valued at $132,000 after purchasing an additional 1,766 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of Redfin in the third quarter valued at approximately $25,000. Finally, Financial Advocates Investment Management lifted its position in Redfin by 21.6% during the third quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock worth $148,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Activity

In other news, insider Anthony Ray Kappus sold 8,417 shares of the 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 directly owns 29,978 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RDFN shares. 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 lifted their price target on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. DA Davidson reissued a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research note on Tuesday, November 19th. 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 report on Monday, September 30th. Finally, The Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and lifted their target price for the company from $6.00 to $6.50 in a report on Monday, November 18th. Two equities 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, the company has a consensus rating of “Hold” and a consensus price target of $8.98.

Redfin Price Performance

RDFN opened at $9.63 on Tuesday. Redfin Co. has a 12 month low of $5.10 and a 12 month high of $15.29. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.52 and a beta of 2.70. The business has a fifty day moving average price of $10.70 and a 200 day moving average price of $8.75.

Redfin (NASDAQ:RDFN) last issued its 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 firm had revenue of $278.02 million during the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. On average, research analysts anticipate that Redfin Co. will post -1.23 earnings per share for the current year.

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.