15,525 Shares in Redfin Co. (NASDAQ:RDFN) Bought by Optimize Financial Inc

Optimize Financial Inc bought a new stake in Redfin Co. (NASDAQ:RDFN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,525 shares of the company’s stock, valued at approximately $122,000.

Several other institutional investors and hedge funds have also bought and sold shares of RDFN. Hennessy Advisors Inc. bought a new stake in Redfin during the fourth quarter valued at approximately $40,109,000. Tidal Investments LLC purchased a new stake in shares of Redfin in the 3rd quarter worth $10,650,000. JPMorgan Chase & Co. raised its holdings in Redfin by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company’s stock worth $4,855,000 after purchasing an additional 290,545 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Redfin by 57.9% during the fourth 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 in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Redfin in the fourth quarter worth about $649,000. 61.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 16,209 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 74,616 shares in the company, valued at $831,968.40. The trade was a 17.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on RDFN. Piper Sandler raised shares of Redfin from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $4.00 to $12.50 in a report on Tuesday, March 11th. DA Davidson reiterated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research note on Wednesday, February 19th. Gordon Haskett upgraded Redfin to a “hold” rating in a research report on Monday, March 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. Finally, B. Riley cut Redfin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.03.

Redfin Trading Up 0.1 %

Shares of RDFN opened at $8.21 on Monday. The company’s fifty day simple moving average is $9.00 and its 200-day simple moving average is $9.16. The company has a market cap of $1.05 billion, a P/E ratio of -6.41 and a beta of 2.56. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29.

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.