Geode Capital Management LLC Has $37.88 Million Stock Position in Redfin Co. (NASDAQ:RDFN)

Geode Capital Management LLC increased its position in Redfin Co. (NASDAQ:RDFN) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,022,948 shares of the company’s stock after buying an additional 66,018 shares during the period. Geode Capital Management LLC owned 2.44% of Redfin worth $37,884,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Two Sigma Advisers LP grew its stake in Redfin by 124.9% in the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock valued at $26,938,000 after acquiring an additional 1,193,900 shares during the period. Assenagon Asset Management S.A. grew its position 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 valued at $13,687,000 after purchasing an additional 740,759 shares during the period. BNP Paribas Financial Markets increased its stake in Redfin by 476.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock valued at $10,018,000 after purchasing an additional 660,872 shares in the last quarter. Zacks Investment Management acquired a new position in Redfin during the third quarter worth $2,108,000. Finally, Centiva Capital LP lifted its stake in shares of Redfin by 318.9% in the third quarter. Centiva Capital LP now owns 140,675 shares of the company’s stock valued at $1,763,000 after buying an additional 107,097 shares in the last quarter. 61.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Redfin

In related news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the sale, the insider now directly owns 29,978 shares in the company, valued at approximately $252,714.54. The trade was a 21.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Redfin Stock Performance

RDFN opened at $8.35 on Wednesday. The firm has a market cap of $1.04 billion, a P/E ratio of -6.52 and a beta of 2.63. Redfin Co. has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The firm has a 50-day moving average of $9.55 and a 200 day moving average of $9.10.

Redfin (NASDAQ:RDFN) last issued its quarterly 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 firm had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same period in the prior year, the firm posted ($0.17) EPS. Equities research analysts predict that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on RDFN shares. B. Riley boosted their target price 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. DA Davidson reissued a “neutral” rating and set a $7.25 price objective on shares of Redfin in a report on Tuesday, November 19th. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and raised their target price for the company from $6.00 to $6.50 in a report on Monday, November 18th. Wedbush upped their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group raised their price objective on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.98.

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.