Wells Fargo & Company MN Has $486,000 Stock Holdings in Redfin Co. (NASDAQ:RDFN)

Wells Fargo & Company MN increased its position in Redfin Co. (NASDAQ:RDFN) by 58.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,758 shares of the company’s stock after buying an additional 22,898 shares during the quarter. Wells Fargo & Company MN’s holdings in Redfin were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RDFN. R Squared Ltd acquired a new position in Redfin in the 4th quarter valued at approximately $33,000. US Bancorp DE grew its stake in shares of 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. increased its holdings in 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 increased its holdings in Redfin by 87.8% in the fourth 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 bought a new position in Redfin during the 4th quarter worth $81,000. Institutional investors own 61.07% of the company’s stock.

Redfin Price Performance

RDFN stock opened at $9.59 on Friday. Redfin Co. has a 1 year low of $5.49 and a 1 year high of $15.29. The stock has a market capitalization of $1.23 billion, a PE ratio of -7.49 and a beta of 2.50. The company’s 50-day moving average is $9.15 and its 200-day moving average is $8.94.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the firm’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 transaction, the insider now directly owns 74,616 shares of the company’s stock, valued at approximately $831,968.40. This trade represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RDFN shares. B. Riley cut Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. DA Davidson reissued a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their price target on shares of Redfin from $8.00 to $12.50 and gave the stock a “sector perform” rating in a research report on Tuesday, April 15th. Gordon Haskett raised shares of Redfin to a “hold” rating in a research note on Monday, March 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. One 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.25.

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.