Redfin Co. (NASDAQ:RDFN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in shares of Redfin Co. (NASDAQ:RDFN) by 57.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 620,054 shares of the company’s stock after selling 826,805 shares during the period. Federated Hermes Inc.’s holdings in Redfin were worth $4,880,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Merit Financial Group LLC increased its position in shares of Redfin by 10.7% in the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock valued at $125,000 after acquiring an additional 1,529 shares during the period. US Bancorp DE grew its stake in Redfin by 48.3% during the 4th 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 last quarter. Blue Trust Inc. increased its holdings in shares of Redfin by 76.3% in the fourth 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 raised its stake in shares of Redfin by 87.8% in the fourth quarter. AlphaQuest LLC now owns 7,086 shares of the company’s stock worth $56,000 after purchasing an additional 3,312 shares during the last quarter. Finally, CAP Partners LLC lifted its holdings in shares of Redfin by 8.8% during the fourth quarter. CAP Partners LLC now owns 44,725 shares of the company’s stock worth $352,000 after purchasing an additional 3,621 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Stock Performance

Shares of NASDAQ RDFN opened at $8.21 on Friday. The firm has a fifty day moving average of $9.00 and a 200 day moving average of $9.19. The firm has a market cap of $1.04 billion, a PE ratio of -6.41 and a beta of 2.56. Redfin Co. has a one year low of $5.10 and a one year high of $15.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RDFN shares. B. Riley lowered shares of Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 10th. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. Citigroup lowered their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price objective on Redfin from $7.00 to $12.50 and gave the company a “neutral” rating in a research note on Monday, March 24th. Finally, Zelman & Associates upgraded Redfin to a “strong-buy” rating in a research note on Wednesday, March 5th. One investment 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.03.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the sale, the insider now directly owns 74,616 shares of the company’s stock, valued at $831,968.40. The trade was a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

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.