Entropy Technologies LP Boosts Stock Position in Redfin Co. (NASDAQ:RDFN)

Entropy Technologies LP grew its stake in Redfin Co. (NASDAQ:RDFN) by 119.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,357 shares of the company’s stock after purchasing an additional 25,200 shares during the period. Entropy Technologies LP’s holdings in Redfin were worth $581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in RDFN. Allspring Global Investments Holdings LLC grew its position in Redfin by 205.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after acquiring an additional 3,101 shares during the period. Swiss National Bank grew its position in Redfin by 1.3% in the first quarter. Swiss National Bank now owns 227,500 shares of the company’s stock worth $1,513,000 after acquiring an additional 2,900 shares during the period. ProShare Advisors LLC lifted its stake in Redfin by 9.8% during the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock worth $132,000 after purchasing an additional 1,766 shares in the last quarter. Vanguard Group Inc. lifted its stake in Redfin by 11.3% during the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after purchasing an additional 1,953,127 shares in the last quarter. Finally, Natixis lifted its stake in Redfin by 119.7% during the first quarter. Natixis now owns 128,500 shares of the company’s stock worth $855,000 after purchasing an additional 70,000 shares in the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Price Performance

Redfin stock opened at $8.71 on Friday. The stock’s fifty day moving average is $11.14 and its two-hundred day moving average is $8.60. The stock has a market cap of $1.08 billion, a PE ratio of -6.80 and a beta of 2.70. Redfin Co. has a 1-year low of $5.10 and a 1-year high of $15.29.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The business had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same quarter last year, the firm posted ($0.17) earnings per share. On average, research analysts expect that Redfin Co. will post -1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christian John Taubman sold 3,632 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the transaction, the insider now owns 71,720 shares of the company’s stock, valued at $663,410. This trade represents a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Jefferies Financial Group increased their price objective on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. B. Riley increased their price objective on Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Wedbush increased their price objective on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Redfin currently has a consensus rating of “Hold” and a consensus target price of $9.23.

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.