35,084 Shares in Redfin Co. (NASDAQ:RDFN) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in Redfin Co. (NASDAQ:RDFN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 35,084 shares of the company's stock, valued at approximately $276,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new stake in shares of Redfin during the fourth quarter valued at about $40,109,000. Two Sigma Advisers LP boosted its position in shares of Redfin by 124.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company's stock worth $26,938,000 after acquiring an additional 1,193,900 shares in the last quarter. Tidal Investments LLC purchased a new position in Redfin in the third quarter valued at approximately $10,650,000. BNP Paribas Financial Markets raised its stake in Redfin by 476.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company's stock worth $10,018,000 after acquiring an additional 660,872 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of Redfin during the third quarter worth about $2,108,000. Institutional investors and hedge funds own 61.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup reduced their price objective on Redfin from $10.50 to $9.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a report on Monday, March 24th. Piper Sandler upgraded shares of Redfin from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $4.00 to $12.50 in a research report on Tuesday, March 11th. Susquehanna cut their price objective on Redfin from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, B. Riley lowered shares of Redfin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.03.

Redfin Price Performance

RDFN traded down $0.01 on Friday, hitting $10.21. The company had a trading volume of 9,447,871 shares, compared to its average volume of 6,080,207. Redfin Co. has a 1-year low of $5.10 and a 1-year high of $15.29. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -7.98 and a beta of 2.90. The company's fifty day moving average price is $8.72 and its 200 day moving average price is $9.46.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.40% of the stock is currently owned by corporate 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.