Jump Financial LLC decreased its stake in Redfin Co. (NASDAQ:RDFN - Free Report) by 84.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 97,948 shares of the company's stock after selling 517,852 shares during the quarter. Jump Financial LLC owned 0.08% of Redfin worth $771,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Hennessy Advisors Inc. purchased a new stake in Redfin in the 4th quarter worth about $40,109,000. Geode Capital Management LLC lifted its stake in Redfin by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 3,079,813 shares of the company's stock worth $24,243,000 after acquiring an additional 56,865 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Redfin by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company's stock worth $8,042,000 after acquiring an additional 23,621 shares in the last quarter. Tidal Investments LLC purchased a new stake in Redfin in the 3rd quarter worth about $10,650,000. Finally, JPMorgan Chase & Co. lifted its stake in Redfin by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company's stock worth $4,855,000 after acquiring an additional 290,545 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company's stock.
Insider Activity
In other news, insider Christian John Taubman sold 16,209 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is owned by company insiders.
Redfin Stock Performance
Shares of RDFN traded down $0.16 during trading hours on Monday, reaching $9.03. 4,746,308 shares of the company traded hands, compared to its average volume of 6,246,040. The stock's fifty day moving average is $9.04 and its 200 day moving average is $8.97. The stock has a market cap of $1.15 billion, a P/E ratio of -7.05 and a beta of 2.56. Redfin Co. has a 1-year low of $5.32 and a 1-year high of $15.29.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on RDFN shares. Susquehanna cut their price target on Redfin from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Citigroup cut their price target on Redfin from $10.50 to $9.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. JPMorgan Chase & Co. raised their price target on Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Finally, Royal Bank of Canada raised their price target on Redfin from $8.00 to $12.50 and gave the stock a "sector perform" rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $10.25.
Get Our Latest Analysis on RDFN
About Redfin
(
Free Report)
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.
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