Fox Run Management L.L.C. Purchases New Shares in Redfin Co. (NASDAQ:RDFN)

Fox Run Management L.L.C. acquired a new position in Redfin Co. (NASDAQ:RDFN) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 19,004 shares of the company’s stock, valued at approximately $150,000.

A number of other large investors have also modified their holdings of RDFN. R Squared Ltd purchased a new position in shares of Redfin in the 4th quarter valued at about $33,000. US Bancorp DE grew its holdings in Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after purchasing an additional 1,799 shares during the period. Blue Trust Inc. raised 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 worth $46,000 after buying an additional 2,520 shares during the period. Quest Partners LLC purchased a new position in shares of Redfin during the 3rd quarter valued at approximately $47,000. Finally, AlphaQuest LLC grew its stake in Redfin by 87.8% in the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock valued at $56,000 after acquiring an additional 3,312 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Activity

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction dated Friday, March 21st. The shares were 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 of the company’s stock, valued at $831,968.40. This trade represents a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Redfin Price Performance

NASDAQ:RDFN opened at $10.21 on Friday. The company’s 50-day moving average is $8.72 and its two-hundred day moving average is $9.48. Redfin Co. has a 1-year low of $5.10 and a 1-year high of $15.29. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -7.98 and a beta of 2.90.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Gordon Haskett raised shares of Redfin to a “hold” rating in a report on Monday, March 10th. Citigroup decreased their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Piper Sandler upgraded Redfin from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $4.00 to $12.50 in a research note on Tuesday, March 11th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Finally, DA Davidson reissued a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.03.

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.