Federated Hermes Inc. Lowers Holdings in Redfin Co. (NASDAQ:RDFN)

Federated Hermes Inc. trimmed its position in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 57.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 620,054 shares of the company's stock after selling 826,805 shares during the period. Federated Hermes Inc. owned 0.50% of Redfin worth $4,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of RDFN. R Squared Ltd acquired a new position in shares of Redfin in the fourth quarter valued at approximately $33,000. US Bancorp DE increased its stake in Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company's stock valued at $43,000 after acquiring an additional 1,799 shares during the last quarter. Blue Trust Inc. lifted its stake in Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock worth $46,000 after purchasing an additional 2,520 shares during the last quarter. AlphaQuest LLC increased 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 last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Redfin during the 4th quarter valued at approximately $81,000. 61.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

RDFN has been the subject of a number of research reports. Royal Bank of Canada increased their price target on Redfin from $8.00 to $12.50 and gave the company a "sector perform" rating in a research note on Tuesday. Piper Sandler raised shares of Redfin from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $4.00 to $12.50 in a research note on Tuesday, March 11th. Citigroup decreased their target price on Redfin from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Needham & Company LLC restated a "hold" rating on shares of Redfin in a report on Tuesday, March 11th. Finally, Zelman & Associates raised shares of Redfin to a "strong-buy" rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.25.

Redfin Trading Down 0.4 %

Shares of NASDAQ:RDFN traded down $0.03 during trading on Thursday, reaching $8.55. The company had a trading volume of 728,636 shares, compared to its average volume of 6,201,425. Redfin Co. has a 12 month low of $5.10 and a 12 month high of $15.29. The stock has a market capitalization of $1.09 billion, a P/E ratio of -6.67 and a beta of 2.56. The company has a fifty day moving average of $9.02 and a two-hundred day moving average of $9.13.

Insider Buying and Selling

In other news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the sale, the insider now directly owns 74,616 shares in the company, valued at approximately $831,968.40. This 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 this hyperlink. 4.40% of the stock is owned by corporate insiders.

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.