HighPoint Advisor Group LLC Boosts Stock Position in Redfin Co. (NASDAQ:RDFN)

HighPoint Advisor Group LLC boosted its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 369.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,454 shares of the company’s stock after purchasing an additional 52,307 shares during the period. HighPoint Advisor Group LLC owned about 0.05% of Redfin worth $528,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RDFN. Charles Schwab Investment Management Inc. raised its holdings in Redfin by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after purchasing an additional 92,023 shares in the last quarter. Cerity Partners LLC lifted its position in Redfin by 13.0% during 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 period. Centiva Capital LP boosted its stake in Redfin by 318.9% during the third quarter. Centiva Capital LP now owns 140,675 shares of the company’s stock worth $1,763,000 after acquiring an additional 107,097 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in Redfin in the third quarter worth about $135,000. Finally, Quadrature Capital Ltd bought a new position in Redfin during the 3rd quarter valued at approximately $1,252,000. Institutional investors own 61.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. B. Riley cut shares of Redfin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. JPMorgan Chase & Co. lifted their price objective on Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a report on Monday, March 24th. Zelman & Associates raised Redfin to a “strong-buy” rating in a report on Wednesday, March 5th. Piper Sandler upgraded Redfin from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $4.00 to $12.50 in a research note on Tuesday, March 11th. Finally, Gordon Haskett raised shares of Redfin to a “hold” rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.03.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $10.24 on Thursday. The company has a market capitalization of $1.29 billion, a P/E ratio of -8.00 and a beta of 2.90. Redfin Co. has a 1-year low of $5.10 and a 1-year high of $15.29. The firm’s 50 day simple moving average is $8.83 and its two-hundred day simple moving average is $9.42.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction dated Friday, March 21st. The stock was 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 in the company, valued at approximately $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 can be accessed through this hyperlink. 4.40% of the stock is owned by corporate insiders.

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.