KLP Kapitalforvaltning AS Makes New $185,000 Investment in Redfin Co. (NASDAQ:RDFN)

KLP Kapitalforvaltning AS acquired a new stake in Redfin Co. (NASDAQ:RDFN) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 23,500 shares of the company’s stock, valued at approximately $185,000.

A number of other hedge funds have also recently added to or reduced their stakes in RDFN. Virtu Financial LLC acquired a new stake in shares of Redfin in the fourth quarter valued at about $649,000. Blueshift Asset Management LLC acquired a new position in shares of Redfin in the fourth quarter valued at approximately $197,000. Cibc World Markets Corp acquired a new stake in shares of Redfin during the fourth quarter worth $88,000. Swiss National Bank increased its stake in shares of Redfin by 2.1% during the 4th quarter. Swiss National Bank now owns 239,500 shares of the company’s stock valued at $1,885,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Redfin by 57.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 270,340 shares of the company’s stock valued at $2,128,000 after purchasing an additional 99,078 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Trading Down 9.5 %

NASDAQ RDFN opened at $8.85 on Wednesday. The company has a market cap of $1.12 billion, a PE ratio of -6.91 and a beta of 2.56. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29. The stock’s 50-day moving average price is $8.96 and its two-hundred day moving average price is $9.28.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 16,209 shares of Redfin 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 completion of the sale, the insider now owns 74,616 shares of the company’s stock, valued at $831,968.40. This trade represents a 17.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RDFN shares. Susquehanna decreased their price objective on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Gordon Haskett raised Redfin to a “hold” rating in a report on Monday, March 10th. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research note on Monday, March 24th. DA Davidson reiterated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.03.

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.