HighTower Advisors LLC Sells 29,244 Shares of Redfin Co. (NASDAQ:RDFN)

HighTower Advisors LLC lessened its position in shares of Redfin Co. (NASDAQ:RDFN) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,273 shares of the company’s stock after selling 29,244 shares during the quarter. HighTower Advisors LLC’s holdings in Redfin were worth $1,891,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Redfin during the 4th quarter worth $33,000. US Bancorp DE boosted its position in shares of Redfin by 48.3% in the 4th quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after purchasing an additional 1,799 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after purchasing an additional 2,520 shares during the period. Quest Partners LLC bought a new stake in Redfin in the third quarter valued at about $47,000. Finally, AlphaQuest LLC boosted its stake in Redfin by 87.8% during the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock worth $56,000 after acquiring an additional 3,312 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.

Analyst Ratings Changes

RDFN has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. Gordon Haskett upgraded shares of Redfin to a “hold” rating in a report on Monday, March 10th. Citigroup reduced their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Piper Sandler raised shares of Redfin from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $4.00 to $12.50 in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.48.

Redfin Stock Down 1.3 %

Shares of NASDAQ RDFN opened at $11.04 on Monday. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The company has a market cap of $1.40 billion, a PE ratio of -8.63 and a beta of 2.90. The business’s 50 day moving average price is $8.43 and its two-hundred day moving average price is $9.46.

Redfin 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.