Blueshift Asset Management LLC Buys New Position in Redfin Co. (NASDAQ:RDFN)

Blueshift Asset Management LLC acquired a new stake in shares of Redfin Co. (NASDAQ:RDFN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 25,044 shares of the company's stock, valued at approximately $197,000.

Several other institutional investors and hedge funds have also made changes to their positions in RDFN. Hennessy Advisors Inc. acquired a new stake in Redfin during the 4th quarter valued at approximately $40,109,000. Geode Capital Management LLC grew its position in shares of Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company's stock worth $37,884,000 after buying an additional 66,018 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Redfin by 124.9% in the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company's stock worth $26,938,000 after buying an additional 1,193,900 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Redfin by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company's stock valued at $8,042,000 after acquiring an additional 23,621 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Redfin in the third quarter valued at $10,650,000. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on RDFN. DA Davidson reissued a "neutral" rating and issued a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Piper Sandler raised Redfin from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $4.00 to $12.50 in a report on Tuesday, March 11th. Gordon Haskett raised Redfin to a "hold" rating in a report on Monday, March 10th. JPMorgan Chase & Co. lifted their target price on Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research report on Monday. Finally, Susquehanna reduced their price objective on Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $10.03.

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Redfin Price Performance

Shares of RDFN stock traded down $0.23 during trading hours on Tuesday, reaching $10.56. The stock had a trading volume of 2,367,291 shares, compared to its average volume of 8,164,956. The firm has a market capitalization of $1.33 billion, a PE ratio of -8.25 and a beta of 2.90. The firm has a 50-day simple moving average of $8.50 and a 200-day simple moving average of $9.46. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29.

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.