Charles Schwab Investment Management Inc. Acquires 92,023 Shares of Redfin Co. (NASDAQ:RDFN)

Charles Schwab Investment Management Inc. increased its holdings in Redfin Co. (NASDAQ:RDFN) by 10.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 998,284 shares of the company’s stock after acquiring an additional 92,023 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.82% of Redfin worth $12,508,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of RDFN. Assenagon Asset Management S.A. grew its holdings in shares of Redfin by 210.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock worth $13,687,000 after acquiring an additional 740,759 shares during the period. Bank of New York Mellon Corp grew its position in 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. Rhumbline Advisers increased its stake in Redfin by 12.2% during the 2nd quarter. Rhumbline Advisers now owns 177,096 shares of the company’s stock valued at $1,064,000 after purchasing an additional 19,229 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Redfin by 53.2% in the third quarter. GSA Capital Partners LLP now owns 139,203 shares of the company’s stock worth $1,744,000 after buying an additional 48,313 shares during the last quarter. Finally, Clarius Group LLC boosted its stake in Redfin by 49.5% during the 3rd quarter. Clarius Group LLC now owns 134,554 shares of the company’s stock valued at $1,686,000 after purchasing an additional 44,532 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on RDFN. JPMorgan Chase & Co. increased their price objective on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Jefferies Financial Group raised their target price on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. The Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $6.00 to $6.50 in a report on Monday, November 18th. Finally, B. Riley upped their price objective on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.98.

Insider Transactions at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of Redfin 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 directly owns 29,978 shares of the company’s stock, 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 this link. Insiders own 4.40% of the company’s stock.

Redfin Price Performance

Redfin stock opened at $9.80 on Monday. The stock has a market cap of $1.22 billion, a P/E ratio of -7.66 and a beta of 2.63. The firm’s 50 day moving average price is $10.08 and its 200-day moving average price is $8.89. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The business had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same period in the previous year, the business earned ($0.17) earnings per share. As a group, equities analysts expect that Redfin Co. will post -1.25 EPS 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.