Redfin Co. (NASDAQ:RDFN) Stake Lessened by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its holdings in Redfin Co. (NASDAQ:RDFN) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,795 shares of the company’s stock after selling 8,347 shares during the period. Corient Private Wealth LLC’s holdings in Redfin were worth $227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new stake in Redfin in the 4th quarter worth about $33,000. US Bancorp DE increased its holdings 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 period. Blue Trust Inc. increased its holdings 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 purchasing an additional 2,520 shares during the period. AlphaQuest LLC lifted its position in shares of Redfin by 87.8% in the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock worth $56,000 after purchasing an additional 3,312 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Redfin during the fourth quarter worth approximately $81,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $9.57 on Wednesday. The stock has a market capitalization of $1.21 billion, a P/E ratio of -7.48 and a beta of 2.90. The business has a 50-day moving average of $8.78 and a two-hundred day moving average of $9.41. Redfin Co. has a fifty-two week low of $5.10 and a fifty-two week high of $15.29.

Insider Activity at Redfin

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. Gordon Haskett raised shares of Redfin to a “hold” rating in a research note on Monday, March 10th. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $4.00 to $12.50 in a research report on Tuesday, March 11th. Citigroup lowered their target price on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.03.

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.