Assenagon Asset Management S.A. Has $586,000 Stock Position in Resideo Technologies, Inc. $REZI

Key Points

• Assenagon Asset Management cut its stake in Resideo by 69.5% in Q4 and now owns 16,698 shares valued at about $586,000.
• Institutional investors hold 91.71% of Resideo’s stock, and several other funds recently increased positions or initiated stakes in the company.
• Analyst views are mixed: Morgan Stanley raised its target to $50 with an "overweight" rating, but the consensus is a "Hold" with an average target of $39.67 (2 Buys, 2 Holds, 1 Sell).

Assenagon Asset Management S.A. cut its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 69.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,698 shares of the company's stock after selling 37,980 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Resideo Technologies were worth $586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC increased its position in Resideo Technologies by 588.2% during the 3rd quarter. ORG Partners LLC now owns 585 shares of the company's stock worth $25,000 after purchasing an additional 500 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Resideo Technologies by 283.8% during the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company's stock valued at $25,000 after acquiring an additional 420 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Resideo Technologies by 1,778.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 587 shares in the last quarter. Headlands Technologies LLC bought a new stake in Resideo Technologies during the 2nd quarter worth $34,000. Finally, Jones Financial Companies Lllp grew its position in Resideo Technologies by 128.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 934 shares of the company's stock worth $39,000 after acquiring an additional 525 shares during the last quarter. Institutional investors own 91.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on REZI shares. Morgan Stanley increased their target price on Resideo Technologies from $42.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Weiss Ratings restated a "sell (d+)" rating on shares of Resideo Technologies in a report on Thursday, January 22nd. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Resideo Technologies in a research note on Friday, March 13th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $39.67.

Resideo Technologies Stock Performance

NYSE REZI opened at $34.44 on Thursday. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of -8.55 and a beta of 1.70. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.30. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $45.29. The stock has a fifty day simple moving average of $35.42 and a 200 day simple moving average of $36.72.

About Resideo Technologies

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.

Want to see what other hedge funds are holding REZI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Resideo Technologies, Inc. (NYSE:REZI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.