Redfin Co. (NASDAQ:RDFN) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its position in Redfin Co. (NASDAQ:RDFN - Free Report) by 68.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 525,034 shares of the company's stock after selling 1,150,580 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.42% of Redfin worth $4,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hennessy Advisors Inc. bought a new position in Redfin during the fourth quarter valued at $40,109,000. JPMorgan Chase & Co. lifted its position in Redfin by 89.0% during the fourth quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company's stock valued at $4,855,000 after purchasing an additional 290,545 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Redfin during the fourth quarter valued at $1,157,000. Northern Trust Corp lifted its position in Redfin by 11.0% during the fourth quarter. Northern Trust Corp now owns 1,147,666 shares of the company's stock valued at $9,032,000 after purchasing an additional 113,466 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in Redfin by 106.8% during the fourth quarter. Hsbc Holdings PLC now owns 193,597 shares of the company's stock valued at $1,541,000 after purchasing an additional 100,004 shares during the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Trading Up 3.3%

Shares of RDFN stock traded up $0.33 during trading hours on Friday, hitting $10.35. The company's stock had a trading volume of 9,835,886 shares, compared to its average volume of 6,415,805. The stock has a market cap of $1.33 billion, a PE ratio of -8.09 and a beta of 2.50. Redfin Co. has a 12-month low of $5.49 and a 12-month high of $15.29. The company has a 50 day moving average of $9.58 and a 200 day moving average of $8.88.

Redfin (NASDAQ:RDFN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to analyst estimates of $220.89 million. The business's revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.57) EPS. As a group, analysts anticipate that Redfin Co. will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the completion of the transaction, the insider now owns 74,616 shares in the company, valued at $831,968.40. The trade was a 17.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

RDFN has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $12.50 and gave the company a "neutral" rating in a research report on Monday, March 24th. Citigroup increased their price objective on shares of Redfin from $7.30 to $9.20 and gave the company a "neutral" rating in a research report on Thursday, May 8th. B. Riley lowered shares of Redfin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 10th. Piper Sandler upgraded shares of Redfin from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $4.00 to $12.50 in a report on Tuesday, March 11th. Finally, Zelman & Associates upgraded shares of Redfin to a "strong-buy" rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.45.

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.