AlphaQuest LLC Acquires 3,312 Shares of Redfin Co. (NASDAQ:RDFN)

AlphaQuest LLC raised its position in shares of Redfin Co. (NASDAQ:RDFN) by 87.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,086 shares of the company’s stock after purchasing an additional 3,312 shares during the quarter. AlphaQuest LLC’s holdings in Redfin were worth $56,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RDFN. R Squared Ltd bought a new stake in shares of Redfin during the 4th quarter valued at about $33,000. US Bancorp DE grew its stake in shares of Redfin by 48.3% during the 4th quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after purchasing an additional 1,799 shares during the period. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 2,520 shares during the period. Quest Partners LLC bought a new stake in shares of Redfin during the 3rd quarter valued at about $47,000. Finally, Ballentine Partners LLC bought a new stake in shares of Redfin during the 4th quarter valued at about $81,000. 61.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RDFN shares. JPMorgan Chase & Co. lowered their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $4.00 to $12.50 in a research report on Tuesday, March 11th. Gordon Haskett raised Redfin to a “hold” rating in a research report on Monday, March 10th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $7.25 price objective on shares of Redfin in a research report on Wednesday, February 19th. One investment 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. Based on data from MarketBeat, Redfin presently has an average rating of “Hold” and an average target price of $9.48.

Redfin Trading Up 1.6 %

NASDAQ RDFN opened at $11.19 on Friday. The stock has a market cap of $1.41 billion, a PE ratio of -8.74 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 stock’s 50 day moving average is $8.36 and its 200 day moving average is $9.45.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the transaction, the insider now owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. The trade was a 18.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

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.