Charles Schwab Investment Management Inc. Acquires 23,621 Shares of Redfin Co. (NASDAQ:RDFN)

Charles Schwab Investment Management Inc. grew its position in Redfin Co. (NASDAQ:RDFN - Free Report) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,021,905 shares of the company's stock after buying an additional 23,621 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.82% of Redfin worth $8,042,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RDFN. Quest Partners LLC acquired a new position in Redfin in the third quarter valued at about $47,000. R Squared Ltd acquired a new position in shares of Redfin in the 4th quarter valued at approximately $33,000. US Bancorp DE grew 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 valued at $43,000 after purchasing an additional 1,799 shares during the period. Blue Trust Inc. increased its stake in Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock worth $46,000 after purchasing an additional 2,520 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Redfin during the 4th quarter worth approximately $81,000. Institutional investors own 61.07% of the company's stock.

Wall Street Analyst Weigh In

RDFN has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research report on Monday. Susquehanna lowered their target price on Redfin from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. DA Davidson reissued a "neutral" rating and issued a $7.25 price target on shares of Redfin in a research note on Wednesday, February 19th. Citigroup decreased their price objective on Redfin from $10.50 to $9.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.03.

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Redfin Price Performance

RDFN stock traded down $0.17 during midday trading on Tuesday, reaching $10.62. 2,162,372 shares of the company were exchanged, compared to its average volume of 6,015,597. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -8.29 and a beta of 2.90. The business has a 50-day moving average price of $8.50 and a two-hundred day moving average price of $9.46.

About Redfin

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.