Trexquant Investment LP Sells 1,019,127 Shares of Redfin Co. (NASDAQ:RDFN)

Trexquant Investment LP lessened its stake in Redfin Co. (NASDAQ:RDFN - Free Report) by 77.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 288,502 shares of the company's stock after selling 1,019,127 shares during the quarter. Trexquant Investment LP owned approximately 0.23% of Redfin worth $2,271,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of RDFN. Hennessy Advisors Inc. acquired a new stake in Redfin during the fourth quarter valued at approximately $40,109,000. Tidal Investments LLC bought a new position in Redfin during the third quarter worth $10,650,000. JPMorgan Chase & Co. boosted its holdings in Redfin by 89.0% in the fourth quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company's stock worth $4,855,000 after purchasing an additional 290,545 shares during the period. Zacks Investment Management bought a new stake in Redfin during the third quarter valued at $2,108,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Redfin by 57.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 270,340 shares of the company's stock worth $2,128,000 after buying an additional 99,078 shares during the last quarter. Institutional investors own 61.07% of the company's stock.

Redfin Stock Up 0.1 %

Shares of RDFN traded up $0.01 during trading hours on Friday, reaching $8.21. The company's stock had a trading volume of 5,941,166 shares, compared to its average volume of 6,229,977. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -6.41 and a beta of 2.56. The company has a 50 day moving average of $9.00 and a two-hundred day moving average of $9.19. Redfin Co. has a 1-year low of $5.10 and a 1-year high of $15.29.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Susquehanna dropped their price objective on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Zelman & Associates raised Redfin to a "strong-buy" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a report on Monday, March 24th. Needham & Company LLC restated a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. Finally, DA Davidson reissued a "neutral" rating and issued a $7.25 price target on shares of Redfin in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $10.03.

Insiders Place Their Bets

In other 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 transaction of $180,730.35. Following the completion of the sale, the insider now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.40% of the company's stock.

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.