Connor Clark & Lunn Investment Management Ltd. lifted its position in Redfin Co. (NASDAQ:RDFN - Free Report) by 57.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,340 shares of the company's stock after purchasing an additional 99,078 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.22% of Redfin worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in the company. AlphaQuest LLC lifted its stake in shares of Redfin by 87.8% in the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company's stock valued at $56,000 after purchasing an additional 3,312 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Redfin in the 4th quarter valued at $83,000. Proficio Capital Partners LLC acquired a new position in shares of Redfin in the 4th quarter valued at $276,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Redfin by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company's stock valued at $8,042,000 after purchasing an additional 23,621 shares during the period. Finally, US Bancorp DE lifted its stake 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. 61.07% of the stock is currently owned by institutional investors and hedge funds.
Redfin Stock Down 1.3 %
Shares of RDFN traded down $0.15 during trading on Friday, reaching $11.04. 5,012,747 shares of the company traded hands, compared to its average volume of 6,014,617. The stock has a 50-day simple moving average of $8.43 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. The stock has a market cap of $1.40 billion, a PE ratio of -8.63 and a beta of 2.90.
Insider Activity
In other news, insider Christian John Taubman sold 16,333 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the completion of the transaction, the insider now owns 73,466 shares of the company's stock, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.
Analysts Set New Price Targets
A number of research firms have weighed in on RDFN. B. Riley cut shares of Redfin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced their price objective on shares of Redfin from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Needham & Company LLC restated a "hold" rating on shares of Redfin in a research report on Tuesday, March 11th. Zelman & Associates upgraded shares of Redfin to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, Gordon Haskett upgraded shares of Redfin to a "hold" rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $9.48.
View Our Latest Stock Report on RDFN
About Redfin
(
Free Report)
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.
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