Strategic Investment Solutions Inc. IL Raises Stock Position in Redfin Co. (NASDAQ:RDFN)

Strategic Investment Solutions Inc. IL raised its stake in shares of Redfin Co. (NASDAQ:RDFN) by 18,368.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,234 shares of the company’s stock after buying an additional 9,184 shares during the quarter. Strategic Investment Solutions Inc. IL’s holdings in Redfin were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Redfin in the fourth quarter worth $33,000. US Bancorp DE boosted its position in Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after purchasing an additional 1,799 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after purchasing an additional 2,520 shares during the period. AlphaQuest LLC grew its stake in shares of Redfin by 87.8% during the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock valued at $56,000 after purchasing an additional 3,312 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in shares of Redfin during the 4th quarter valued at about $81,000. 61.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $11.15, for a total value of $180,730.35. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Redfin Stock Down 0.9 %

NASDAQ RDFN opened at $8.57 on Thursday. The business has a 50-day moving average price of $9.02 and a 200-day moving average price of $9.13. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -6.70 and a beta of 2.56. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29.

Analysts Set New Price Targets

A number of research firms recently issued reports on RDFN. Susquehanna dropped their price objective 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. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. DA Davidson restated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their target price on Redfin from $8.00 to $12.50 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, Piper Sandler raised 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 report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.25.

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.