HighTower Advisors LLC Sells 29,244 Shares of Redfin Co. (NASDAQ:RDFN)

HighTower Advisors LLC decreased its position in Redfin Co. (NASDAQ:RDFN - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,273 shares of the company's stock after selling 29,244 shares during the period. HighTower Advisors LLC owned approximately 0.19% of Redfin worth $1,891,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Merit Financial Group LLC boosted its position in shares of Redfin by 10.7% in the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company's stock worth $125,000 after purchasing an additional 1,529 shares during the period. US Bancorp DE boosted its holdings in shares of Redfin by 48.3% in the 4th quarter. US Bancorp DE now owns 5,522 shares of the company's stock worth $43,000 after purchasing an additional 1,799 shares during the period. Blue Trust Inc. raised its holdings in Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock valued at $46,000 after buying an additional 2,520 shares during the period. AlphaQuest LLC lifted its position in Redfin by 87.8% in the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company's stock worth $56,000 after buying an additional 3,312 shares during the last quarter. Finally, CAP Partners LLC increased its position in Redfin by 8.8% during the fourth quarter. CAP Partners LLC now owns 44,725 shares of the company's stock valued at $352,000 after acquiring an additional 3,621 shares during the last quarter. 61.07% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

RDFN has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Redfin in a research report on Tuesday, March 11th. JPMorgan Chase & Co. upped their target price on Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a report on Monday. B. Riley downgraded Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th. DA Davidson reiterated a "neutral" rating and issued a $7.25 price objective on shares of Redfin in a research note on Wednesday, February 19th. Finally, Zelman & Associates upgraded Redfin to a "strong-buy" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $10.03.

Redfin Trading Down 1.8 %

RDFN stock traded down $0.20 during trading hours on Tuesday, hitting $10.58. 2,201,255 shares of the stock traded hands, compared to its average volume of 6,015,597. The stock has a 50-day simple moving average of $8.50 and a 200 day simple moving average of $9.46. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The company has a market cap of $1.34 billion, a P/E ratio of -8.26 and a beta of 2.90.

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.