Charles Schwab Investment Management Inc. Purchases 23,621 Shares of Redfin Co. (NASDAQ:RDFN)

Charles Schwab Investment Management Inc. lifted its position in Redfin Co. (NASDAQ:RDFN) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,021,905 shares of the company’s stock after purchasing an additional 23,621 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Redfin were worth $8,042,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Merit Financial Group LLC boosted its stake in shares of Redfin by 10.7% in the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock valued at $125,000 after purchasing an additional 1,529 shares during the last quarter. US Bancorp DE boosted its stake in shares of Redfin by 48.3% in the 4th quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after purchasing an additional 1,799 shares during the last quarter. Blue Trust Inc. raised its position in shares of Redfin by 76.3% in the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after acquiring an additional 2,520 shares during the period. CAP Partners LLC raised its position in shares of Redfin by 8.8% in the 4th quarter. CAP Partners LLC now owns 44,725 shares of the company’s stock valued at $352,000 after acquiring an additional 3,621 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Redfin in the 3rd quarter valued at approximately $47,000. Institutional investors own 61.07% of the company’s stock.

Redfin Stock Performance

Shares of RDFN stock opened at $11.04 on Monday. Redfin Co. has a 52 week low of $5.10 and a 52 week high of $15.29. The company has a market capitalization of $1.40 billion, a P/E ratio of -8.63 and a beta of 2.90. The company’s 50 day moving average price is $8.43 and its two-hundred day moving average price is $9.46.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Susquehanna cut their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Gordon Haskett upgraded shares of Redfin to a “hold” rating in a research report on Monday, March 10th. B. Riley downgraded shares of Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 10th. Finally, Citigroup dropped their target price on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Redfin presently 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.