Redfin Co. (NASDAQ:RDFN) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its position in Redfin Co. (NASDAQ:RDFN) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,273 shares of the company’s stock after selling 29,244 shares during the quarter. HighTower Advisors LLC owned about 0.19% of Redfin worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Hennessy Advisors Inc. acquired a new position in Redfin during the fourth quarter worth about $40,109,000. Geode Capital Management LLC boosted its stake in shares of Redfin by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after acquiring an additional 66,018 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Redfin by 124.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after buying an additional 1,193,900 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Redfin by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock worth $8,042,000 after purchasing an additional 23,621 shares during the period. Finally, Tidal Investments LLC purchased a new position in shares of Redfin during the third quarter valued at $10,650,000. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RDFN shares. Citigroup dropped their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Susquehanna decreased their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.48.

Redfin Price Performance

Shares of RDFN stock opened at $11.04 on Monday. Redfin Co. has a one year low of $5.10 and a one year high of $15.29. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -8.63 and a beta of 2.90. The stock’s fifty day simple moving average is $8.43 and its 200 day simple moving average is $9.46.

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.