Vanguard Group Inc. Has $132.44 Million Holdings in Redfin Co. (NASDAQ:RDFN)

Vanguard Group Inc. lessened its stake in Redfin Co. (NASDAQ:RDFN - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,827,798 shares of the company's stock after selling 338,344 shares during the quarter. Vanguard Group Inc. owned about 13.57% of Redfin worth $132,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of RDFN. Charles Schwab Investment Management Inc. raised its position in shares of Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company's stock worth $12,508,000 after acquiring an additional 92,023 shares during the last quarter. Cerity Partners LLC increased its position in Redfin by 13.0% in the third quarter. Cerity Partners LLC now owns 36,096 shares of the company's stock worth $452,000 after purchasing an additional 4,157 shares during the period. Quantinno Capital Management LP bought a new stake in Redfin during the 3rd quarter worth about $135,000. Zacks Investment Management acquired a new position in Redfin during the 3rd quarter valued at about $2,108,000. Finally, XTX Topco Ltd bought a new position in shares of Redfin in the 3rd quarter valued at about $455,000. 61.07% of the stock is owned by institutional investors.

Redfin Trading Up 0.1 %

Shares of NASDAQ RDFN traded up $0.01 during mid-day trading on Friday, reaching $8.21. 5,941,166 shares of the company's stock were exchanged, compared to its average volume of 6,229,977. The business has a fifty day simple moving average of $9.00 and a 200 day simple moving average of $9.19. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -6.41 and a beta of 2.56.

Wall Street Analysts Forecast Growth

RDFN has been the subject of a number of recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. Piper Sandler upgraded shares of Redfin from an "underweight" rating to a "neutral" rating and upped their target price for the company from $4.00 to $12.50 in a research report on Tuesday, March 11th. DA Davidson restated a "neutral" rating and issued a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. Citigroup decreased their price objective on Redfin from $10.50 to $9.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. Finally, Zelman & Associates raised Redfin to a "strong-buy" rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Redfin currently has an average rating of "Hold" and an average target price of $10.03.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the sale, the insider now owns 74,616 shares of the company's stock, valued at $831,968.40. This trade represents a 17.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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.