Stifel Financial Corp Sells 1,905 Shares of Redfin Co. (NASDAQ:RDFN)

Stifel Financial Corp lessened its stake in shares of Redfin Co. (NASDAQ:RDFN) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,568 shares of the company’s stock after selling 1,905 shares during the period. Stifel Financial Corp’s holdings in Redfin were worth $734,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new stake in shares of Redfin in the third quarter worth $25,000. Blue Trust Inc. boosted its stake in Redfin by 285.7% in the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after purchasing an additional 2,446 shares in the last quarter. Quest Partners LLC purchased a new stake in Redfin during the 3rd quarter valued at about $47,000. DekaBank Deutsche Girozentrale bought a new stake in Redfin during the 3rd quarter valued at about $48,000. Finally, Algert Global LLC bought a new stake in Redfin during the 2nd quarter valued at about $72,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Trading Down 2.2 %

RDFN opened at $8.35 on Wednesday. The company’s 50 day moving average is $9.55 and its 200 day moving average is $9.10. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -6.52 and a beta of 2.63. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, analysts predict that Redfin Co. will post -1.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. DA Davidson reiterated a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research note on Tuesday, November 19th. B. Riley increased their target price on Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $6.00 to $6.50 in a research note on Monday, November 18th. JPMorgan Chase & Co. upped their price target on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group lifted their price objective on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Redfin has an average rating of “Hold” and a consensus target price of $8.98.

Insider Buying and Selling at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the firm’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 transaction of $70,955.31. Following the sale, the insider now owns 29,978 shares in the company, valued at approximately $252,714.54. This trade represents a 21.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

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.