Redfin Co. (NASDAQ:RDFN) Stake Trimmed by Entropy Technologies LP

Entropy Technologies LP cut its position in shares of Redfin Co. (NASDAQ:RDFN) by 36.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,332 shares of the company’s stock after selling 17,025 shares during the quarter. Entropy Technologies LP’s holdings in Redfin were worth $231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hennessy Advisors Inc. purchased a new stake in shares of Redfin in the 4th quarter valued at approximately $40,109,000. Geode Capital Management LLC raised its stake in Redfin by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after purchasing an additional 66,018 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of 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 purchasing an additional 1,193,900 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Redfin by 210.7% in the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after buying an additional 92,023 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on RDFN. The Goldman Sachs Group downgraded Redfin from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $6.00 to $6.50 in a research note on Monday, November 18th. Wedbush increased their price target on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on shares of 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 upped their price objective on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Citigroup reduced their price objective on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.16.

Insider Buying and Selling

In related news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction that occurred 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 owns 29,978 shares in the company, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The transaction was disclosed in a document filed 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 on Monday, December 23rd. The shares were 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 $620,053.04. The trade was a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

Redfin Trading Down 1.0 %

Shares of Redfin stock opened at $8.55 on Friday. Redfin Co. has a 1-year low of $5.10 and a 1-year high of $15.29. The firm’s 50-day moving average price is $8.23 and its two-hundred day moving average price is $9.40. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.68 and a beta of 2.66.

Redfin Company 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.