Redfin Co. (NASDAQ:RDFN) Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in Redfin Co. (NASDAQ:RDFN - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,079,813 shares of the company's stock after buying an additional 56,865 shares during the period. Geode Capital Management LLC owned about 2.48% of Redfin worth $24,243,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RDFN. Hennessy Advisors Inc. acquired a new position in Redfin in the fourth quarter valued at approximately $40,109,000. Charles Schwab Investment Management Inc. boosted its position in Redfin by 2.4% during 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. Tidal Investments LLC bought a new position in Redfin during the 3rd quarter worth $10,650,000. JPMorgan Chase & Co. increased its position in Redfin by 89.0% in the fourth quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company's stock worth $4,855,000 after buying an additional 290,545 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Redfin by 57.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 270,340 shares of the company's stock valued at $2,128,000 after buying an additional 99,078 shares during the last quarter. Institutional investors own 61.07% of the company's stock.

Redfin Stock Performance

NASDAQ RDFN traded up $0.26 on Thursday, reaching $8.87. The company's stock had a trading volume of 909,104 shares, compared to its average volume of 6,202,684. The firm's 50 day moving average is $9.03 and its two-hundred day moving average is $9.01. The stock has a market cap of $1.13 billion, a PE ratio of -6.92 and a beta of 2.56. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29.

Analyst Upgrades and Downgrades

RDFN has been the subject of several recent research reports. Gordon Haskett upgraded shares of Redfin to a "hold" rating in a research report on Monday, March 10th. Royal Bank of Canada upped their target price on shares of Redfin from $8.00 to $12.50 and gave the stock a "sector perform" rating in a research report on Tuesday, April 15th. Citigroup cut their price target on Redfin from $10.50 to $9.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. Needham & Company LLC reissued a "hold" rating on shares of Redfin in a report on Tuesday, March 11th. Finally, Zelman & Associates raised Redfin to a "strong-buy" rating in a research note 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Redfin has a consensus rating of "Hold" and a consensus target price of $10.25.

Insider Activity at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the sale, the insider now directly owns 74,616 shares of the company's stock, valued at $831,968.40. The trade was a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.40% of the company's stock.

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.