Sequoia Financial Advisors LLC Sells 20,202 Shares of Redfin Co. (NASDAQ:RDFN)

Sequoia Financial Advisors LLC decreased its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 54.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,719 shares of the company’s stock after selling 20,202 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Redfin were worth $132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDFN. R Squared Ltd acquired a new position in shares of Redfin during the fourth quarter worth approximately $33,000. US Bancorp DE increased its position in Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after acquiring an additional 1,799 shares during the period. Blue Trust Inc. raised its stake in Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after purchasing an additional 2,520 shares during the last quarter. Quest Partners LLC bought a new stake in Redfin in the 3rd quarter valued at $47,000. Finally, AlphaQuest LLC boosted its holdings in Redfin by 87.8% in the 4th 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. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 16,333 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the sale, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. This represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.40% of the company’s stock.

Redfin Stock Up 1.6 %

Shares of Redfin stock opened at $11.19 on Friday. The stock has a market capitalization of $1.41 billion, a P/E ratio of -8.74 and a beta of 2.90. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29. The company has a 50-day simple moving average of $8.36 and a 200 day simple moving average of $9.45.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Zelman & Associates raised shares of Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. Susquehanna cut their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. DA Davidson reiterated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research report on Wednesday, February 19th. Gordon Haskett upgraded Redfin to a “hold” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. reduced their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Redfin has a consensus rating of “Hold” and an average target price of $9.48.

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.