Redfin Co. (NASDAQ:RDFN) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its position in shares of Redfin Co. (NASDAQ:RDFN) by 76.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 338,533 shares of the company’s stock after selling 1,099,201 shares during the period. Nuveen Asset Management LLC owned about 0.27% of Redfin worth $2,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RDFN. Cerity Partners LLC raised its holdings in Redfin by 3.3% in the fourth quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock valued at $293,000 after acquiring an additional 1,189 shares in the last quarter. US Bancorp DE raised its holdings in shares of Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after buying an additional 1,799 shares during the last quarter. Blue Trust Inc. lifted its position in Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after acquiring an additional 2,520 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Redfin by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,377 shares of the company’s stock worth $530,000 after buying an additional 3,091 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in Redfin by 87.8% in the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock valued at $56,000 after purchasing an additional 3,312 shares during the period. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup lifted their price objective on Redfin from $7.30 to $9.20 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Zelman & Associates upgraded shares of Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on shares of Redfin from $7.00 to $12.50 and gave the company a “neutral” rating in a report on Monday, March 24th. DA Davidson restated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Finally, Gordon Haskett upgraded shares of Redfin to a “hold” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.45.

Insiders Place Their Bets

In other news, insider Christian John Taubman sold 16,209 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the transaction, the insider now owns 74,616 shares of the company’s stock, valued at approximately $831,968.40. This represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.40% of the stock is owned by company insiders.

Redfin Price Performance

RDFN opened at $9.80 on Tuesday. The firm has a market capitalization of $1.25 billion, a PE ratio of -7.66 and a beta of 2.50. Redfin Co. has a fifty-two week low of $5.49 and a fifty-two week high of $15.29. The company’s 50-day moving average is $9.40 and its 200 day moving average is $8.88.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The firm had revenue of $221.03 million for the quarter, compared to the consensus estimate of $220.89 million. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.57) earnings per share. As a group, analysts expect that Redfin Co. will post -1.25 EPS for the current year.

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.