US Bancorp DE Acquires 1,799 Shares of Redfin Co. (NASDAQ:RDFN)

US Bancorp DE boosted its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 48.3% in the 4th quarter, Holdings Channel reports. The firm owned 5,522 shares of the company’s stock after buying an additional 1,799 shares during the period. US Bancorp DE’s holdings in Redfin were worth $43,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new position in shares of Redfin in the 3rd quarter valued at $291,000. Quest Partners LLC bought a new position in shares of Redfin in the 3rd quarter valued at $47,000. Intech Investment Management LLC bought a new position in shares of Redfin in the 3rd quarter valued at $461,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Redfin by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after acquiring an additional 92,023 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Redfin by 13.0% in the 3rd quarter. Cerity Partners LLC now owns 36,096 shares of the company’s stock valued at $452,000 after acquiring an additional 4,157 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. B. Riley downgraded Redfin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Piper Sandler upgraded Redfin from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $4.00 to $12.50 in a report on Tuesday, March 11th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. Finally, Susquehanna decreased their price objective on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Redfin presently has a consensus rating of “Hold” and an average target price of $9.48.

Redfin Stock Down 1.6 %

NASDAQ RDFN opened at $11.21 on Wednesday. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The firm has a market capitalization of $1.42 billion, a PE ratio of -8.76 and a beta of 2.90. The stock’s 50 day moving average is $8.21 and its 200 day moving average is $9.42.

Insiders Place Their Bets

In related news, insider Christian John Taubman sold 16,333 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Redfin 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.