Pinnacle Wealth Planning Services Inc. Sells 8,097 Shares of Redfin Co. (NASDAQ:RDFN)

Pinnacle Wealth Planning Services Inc. cut its stake in shares of Redfin Co. (NASDAQ:RDFN) by 44.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,009 shares of the company’s stock after selling 8,097 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Redfin were worth $79,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of Redfin during the 3rd quarter valued at approximately $25,000. R Squared Ltd bought a new stake in Redfin during the 4th quarter worth approximately $33,000. US Bancorp DE grew its holdings in Redfin by 48.3% during the 4th quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after acquiring an additional 1,799 shares during the last quarter. Blue Trust Inc. grew its holdings in Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after acquiring an additional 2,520 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Redfin during the 3rd quarter worth approximately $47,000. 61.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 owns 73,466 shares in the company, valued at $620,053.04. This represents a 18.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Redfin Trading Down 0.7 %

RDFN opened at $5.82 on Friday. The company’s fifty day moving average price is $7.84 and its two-hundred day moving average price is $9.41. Redfin Co. has a 1-year low of $5.10 and a 1-year high of $15.29. The company has a market cap of $735.58 million, a price-to-earnings ratio of -4.55 and a beta of 2.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Zelman & Associates raised shares of Redfin to a “strong-buy” rating in a report on Wednesday. DA Davidson reissued a “neutral” rating and set a $7.25 target price on shares of Redfin in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Piper Sandler reduced their target price on shares of Redfin from $7.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday. Finally, Susquehanna reduced their target price on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.63.

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.