Penserra Capital Management LLC Decreases Stock Holdings in Redfin Co. (NASDAQ:RDFN)

Penserra Capital Management LLC lessened its stake in Redfin Co. (NASDAQ:RDFN) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,961 shares of the company’s stock after selling 1,183 shares during the period. Penserra Capital Management LLC’s holdings in Redfin were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Mather Group LLC. grew its position in shares of Redfin by 282.1% in the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after buying an additional 2,821 shares during the last quarter. Hollencrest Capital Management purchased a new position in Redfin in the third quarter worth $25,000. Blue Trust Inc. increased its position in shares of Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after purchasing an additional 2,446 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Redfin during the 3rd quarter valued at $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Redfin in the 3rd quarter worth $48,000. 61.07% of the stock is currently owned by institutional investors.

Redfin Trading Up 0.5 %

Shares of RDFN stock opened at $9.66 on Thursday. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The stock has a market cap of $1.20 billion, a P/E ratio of -7.47 and a beta of 2.70. The stock has a 50 day moving average of $10.61 and a 200 day moving average of $8.77.

Redfin (NASDAQ:RDFN) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same period in the prior year, the company posted ($0.17) EPS. On average, research analysts predict that Redfin Co. will post -1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RDFN shares. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and increased their price target for the company from $6.00 to $6.50 in a research note on Monday, November 18th. Wedbush lifted their target price on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their price target on shares of Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. DA Davidson reissued a “neutral” rating and set a $7.25 price objective on shares of Redfin in a report on Tuesday, November 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.98.

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 transaction of $70,955.31. Following the transaction, the insider now owns 29,978 shares in the company, valued at $252,714.54. This trade represents a 21.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

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.