JPMorgan Chase & Co. Has $4.86 Million Stock Position in Redfin Co. (NASDAQ:RDFN)

JPMorgan Chase & Co. grew its position in Redfin Co. (NASDAQ:RDFN - Free Report) by 89.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 616,923 shares of the company's stock after purchasing an additional 290,545 shares during the period. JPMorgan Chase & Co. owned approximately 0.50% of Redfin worth $4,855,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new stake in Redfin during the fourth quarter worth about $33,000. US Bancorp DE raised its holdings 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 in the last quarter. Blue Trust Inc. raised its holdings 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 in the last quarter. AlphaQuest LLC increased its holdings 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 acquiring an additional 3,312 shares during the period. Finally, Ballentine Partners LLC acquired a new position in Redfin in the 4th quarter valued at $81,000. 61.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RDFN. Royal Bank of Canada upped their price target on shares of Redfin from $8.00 to $12.50 and gave the stock a "sector perform" rating in a research note on Tuesday, April 15th. Gordon Haskett raised shares of Redfin to a "hold" rating in a research note on Monday, March 10th. Susquehanna dropped their price objective on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Piper Sandler raised shares of Redfin from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $4.00 to $12.50 in a research note on Tuesday, March 11th. Finally, Citigroup decreased their price target on shares of Redfin from $10.50 to $9.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.25.

Redfin Price Performance

Shares of NASDAQ RDFN traded up $0.20 during mid-day trading on Thursday, hitting $8.81. The company had a trading volume of 801,034 shares, compared to its average volume of 6,201,793. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -6.86 and a beta of 2.56. Redfin Co. has a 12 month low of $5.10 and a 12 month high of $15.29. The firm's 50 day simple moving average is $9.03 and its two-hundred day simple moving average is $9.01.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the transaction, the insider now directly owns 74,616 shares in the company, valued at $831,968.40. The trade was a 17.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is owned by insiders.

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.