StoneX Group Inc. Invests $194,000 in Redfin Co. (NASDAQ:RDFN)

StoneX Group Inc. acquired a new stake in Redfin Co. (NASDAQ:RDFN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,700 shares of the company’s stock, valued at approximately $194,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RDFN. HighPoint Advisor Group LLC increased its position in shares of Redfin by 369.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 66,454 shares of the company’s stock valued at $528,000 after acquiring an additional 52,307 shares during the last quarter. Maridea Wealth Management LLC purchased a new position in shares of Redfin during the 4th quarter worth approximately $107,000. JPMorgan Chase & Co. increased its holdings in Redfin by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company’s stock valued at $4,855,000 after purchasing an additional 290,545 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Redfin in the fourth quarter valued at approximately $150,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Redfin during the fourth quarter worth $185,000. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 74,616 shares in the company, valued at approximately $831,968.40. The trade was a 17.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by corporate insiders.

Redfin Trading Up 0.4 %

Shares of RDFN opened at $10.28 on Friday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -8.03 and a beta of 2.56. The firm’s fifty day simple moving average is $8.87 and its 200-day simple moving average is $9.42. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $4.00 to $12.50 in a research note on Tuesday, March 11th. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research note on Wednesday, February 19th. Citigroup lowered their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. upped their target price on shares of Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Finally, B. Riley cut shares of Redfin from a “strong-buy” rating 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.03.

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.