11,186 Shares in Redfin Co. (NASDAQ:RDFN) Purchased by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in shares of Redfin Co. (NASDAQ:RDFN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,186 shares of the company’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in shares of Redfin during the 3rd quarter valued at approximately $47,000. R Squared Ltd purchased a new position in Redfin during the fourth quarter worth $33,000. US Bancorp DE boosted its stake 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 buying an additional 1,799 shares during the period. Blue Trust Inc. raised its stake in shares of Redfin by 76.3% in the fourth 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. Finally, AlphaQuest LLC lifted its holdings in shares of Redfin by 87.8% in 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. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Stock Performance

Shares of Redfin stock opened at $10.22 on Friday. The company has a market capitalization of $1.29 billion, a PE ratio of -7.98 and a beta of 2.90. The company has a 50-day simple moving average of $8.67 and a two-hundred day simple moving average of $9.48. Redfin Co. has a one year low of $5.10 and a one year high of $15.29.

Analysts Set New Price Targets

RDFN has been the topic of several analyst reports. Zelman & Associates upgraded shares of Redfin to a “strong-buy” rating in a report on Wednesday, March 5th. Gordon Haskett upgraded Redfin to a “hold” rating in a research report on Monday, March 10th. Piper Sandler upgraded shares of Redfin from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $4.00 to $12.50 in a report on Tuesday, March 11th. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, ten have assigned 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, Redfin has an average rating of “Hold” and a consensus price target of $10.03.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 16,209 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the transaction, the insider now directly owns 74,616 shares in the company, valued at $831,968.40. The trade was a 17.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is currently owned by company insiders.

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.