Cibc World Markets Corp Purchases Shares of 11,186 Redfin Co. (NASDAQ:RDFN)

Cibc World Markets Corp acquired a new position in shares of Redfin Co. (NASDAQ:RDFN) in the 4th quarter, Holdings Channel reports. The fund acquired 11,186 shares of the company’s stock, valued at approximately $88,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new position in Redfin in the 4th quarter worth $33,000. US Bancorp DE raised its stake in shares of Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after purchasing an additional 1,799 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Redfin by 76.3% in 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 during the last quarter. Quest Partners LLC acquired a new stake in shares of Redfin during the third quarter worth about $47,000. Finally, AlphaQuest LLC boosted its position in Redfin by 87.8% in the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock valued at $56,000 after buying an additional 3,312 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RDFN. Zelman & Associates raised shares of Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. Piper Sandler raised shares of Redfin from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $4.00 to $12.50 in a report on Tuesday, March 11th. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, February 19th. Citigroup reduced 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, Needham & Company LLC reissued a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.03.

Insider Activity

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the transaction, the insider now directly owns 74,616 shares of the company’s stock, valued at $831,968.40. This trade represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.

Redfin Stock Down 1.4 %

Shares of Redfin stock opened at $10.22 on Friday. The firm has a market cap of $1.29 billion, a PE ratio of -7.98 and a beta of 2.90. The business has a 50-day moving average price of $8.67 and a 200 day moving average price of $9.48. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29.

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.