Assenagon Asset Management S.A. Sells 857,767 Shares of Redfin Co. (NASDAQ:RDFN)

Assenagon Asset Management S.A. lessened its stake in Redfin Co. (NASDAQ:RDFN) by 78.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,604 shares of the company’s stock after selling 857,767 shares during the quarter. Assenagon Asset Management S.A. owned about 0.19% of Redfin worth $1,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RDFN. Hollencrest Capital Management acquired a new position in shares of Redfin during the 3rd quarter worth $25,000. Blue Trust Inc. grew its position in Redfin by 285.7% in the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after acquiring an additional 2,446 shares during the last quarter. Quest Partners LLC acquired a new position in Redfin during the third quarter worth about $47,000. DekaBank Deutsche Girozentrale acquired a new position in Redfin during the third quarter worth about $48,000. Finally, Algert Global LLC bought a new position in shares of Redfin in the second quarter worth about $72,000. Institutional investors own 61.07% of the company’s stock.

Insiders Place Their Bets

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 completion of the sale, the insider now directly owns 29,978 shares of the company’s stock, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christian John Taubman sold 16,333 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total value of $137,850.52. Following the completion of the transaction, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. The trade was a 18.19 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

Redfin Stock Up 3.2 %

Shares of NASDAQ RDFN opened at $8.12 on Friday. The company has a market capitalization of $1.01 billion, a PE ratio of -6.34 and a beta of 2.64. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The firm has a fifty day simple moving average of $8.48 and a 200 day simple moving average of $9.33.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data 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 analysts’ expectations of $280.21 million. During the same period in the previous year, the business posted ($0.17) earnings per share. As a group, equities analysts expect that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Susquehanna lifted their price target on shares of Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Wedbush increased their target price on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. B. Riley lifted 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 restated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.16.

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.