35,084 Shares in Redfin Co. (NASDAQ:RDFN) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in shares of Redfin Co. (NASDAQ:RDFN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 35,084 shares of the company’s stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Redfin during the fourth quarter worth approximately $33,000. Blue Trust Inc. raised its holdings in Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after purchasing an additional 2,520 shares in the last quarter. Quest Partners LLC bought a new stake in Redfin during the third quarter worth approximately $47,000. Ballentine Partners LLC bought a new stake in Redfin during the fourth quarter worth approximately $81,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Redfin in the fourth quarter valued at $113,000. Institutional investors own 61.07% of the company’s stock.

Wall Street Analysts Forecast Growth

RDFN has been the topic of several research reports. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, February 19th. Zelman & Associates raised Redfin to a “strong-buy” rating in a report on Wednesday, March 5th. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and upped their price target for the company from $4.00 to $12.50 in a report on Tuesday. Citigroup dropped their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. dropped their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.48.

Insider Activity

In related news, insider Christian John Taubman sold 16,333 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the completion of the sale, the insider now directly owns 73,466 shares in the company, valued at approximately $620,053.04. This represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by corporate insiders.

Redfin Stock Down 0.1 %

Redfin stock opened at $9.76 on Wednesday. The company’s fifty day simple moving average is $7.92 and its 200-day simple moving average is $9.41. Redfin Co. has a 12 month low of $5.10 and a 12 month high of $15.29. The stock has a market cap of $1.23 billion, a P/E ratio of -7.63 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.