Virtu Financial LLC Invests $649,000 in Redfin Co. (NASDAQ:RDFN)

Virtu Financial LLC acquired a new stake in Redfin Co. (NASDAQ:RDFN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 82,522 shares of the company's stock, valued at approximately $649,000. Virtu Financial LLC owned 0.07% of Redfin at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company's stock valued at $12,508,000 after purchasing an additional 92,023 shares during the period. Tidal Investments LLC bought a new position in Redfin during the third quarter worth about $10,650,000. Ballentine Partners LLC purchased a new position in shares of Redfin in the fourth quarter worth about $81,000. Geode Capital Management LLC raised its position in shares of Redfin by 2.2% in the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company's stock valued at $37,884,000 after purchasing an additional 66,018 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Redfin by 476.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company's stock valued at $10,018,000 after buying an additional 660,872 shares in the last quarter. Institutional investors own 61.07% of the company's stock.

Redfin Price Performance

RDFN traded down $0.30 during trading on Tuesday, hitting $10.48. 3,050,798 shares of the stock traded hands, compared to its average volume of 6,022,214. The firm has a market capitalization of $1.32 billion, a P/E ratio of -8.19 and a beta of 2.90. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29. The firm has a 50-day moving average of $8.50 and a 200 day moving average of $9.46.

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Insider Transactions at Redfin

In other Redfin 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 transaction, the insider now owns 74,616 shares of the company's stock, valued at $831,968.40. This represents a 17.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. B. Riley lowered Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th. Gordon Haskett raised Redfin to a "hold" rating in a report on Monday, March 10th. Susquehanna lowered their price target on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Piper Sandler raised shares of Redfin from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $4.00 to $12.50 in a research note on Tuesday, March 11th. Finally, Zelman & Associates upgraded 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, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Redfin has an average rating of "Hold" and a consensus price target of $10.03.

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.