Vanguard Group Inc. Cuts Holdings in Redfin Co. (NASDAQ:RDFN)

Vanguard Group Inc. lowered its holdings in Redfin Co. (NASDAQ:RDFN) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,827,798 shares of the company’s stock after selling 338,344 shares during the quarter. Vanguard Group Inc. owned 0.14% of Redfin worth $132,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hennessy Advisors Inc. bought a new stake in Redfin in the 4th quarter worth about $40,109,000. Geode Capital Management LLC boosted its holdings 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 valued at $37,884,000 after acquiring an additional 66,018 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Redfin by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock worth $8,042,000 after acquiring an additional 23,621 shares during the period. Tidal Investments LLC bought a new position in Redfin during the third quarter valued at approximately $10,650,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Redfin by 57.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 270,340 shares of the company’s stock worth $2,128,000 after purchasing an additional 99,078 shares during the last quarter. 61.07% of the stock is owned by institutional investors.

Redfin Trading Down 4.1 %

NASDAQ RDFN opened at $9.78 on Tuesday. 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 $1.24 billion, a price-to-earnings ratio of -7.64 and a beta of 2.56. The company’s 50 day moving average is $8.95 and its two-hundred day moving average is $9.31.

Insider Activity

In related news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the sale, the insider now owns 74,616 shares of the company’s stock, valued at approximately $831,968.40. This trade represents a 17.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

RDFN has been the topic of several research analyst reports. B. Riley cut 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. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. Citigroup reduced their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, DA Davidson reissued a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a report on Wednesday, February 19th. One equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.03.

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.