Maridea Wealth Management LLC Acquires Shares of 13,602 Redfin Co. (NASDAQ:RDFN)

Maridea Wealth Management LLC bought a new position in Redfin Co. (NASDAQ:RDFN) during the 4th quarter, HoldingsChannel reports. The fund bought 13,602 shares of the company’s stock, valued at approximately $107,000.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after buying an additional 92,023 shares in the last quarter. Tidal Investments LLC bought a new stake in Redfin during the 3rd quarter worth approximately $10,650,000. Ballentine Partners LLC acquired a new stake in Redfin during the 4th quarter valued at $81,000. Geode Capital Management LLC raised its position in Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after purchasing an additional 66,018 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in shares of Redfin during the fourth quarter worth $197,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the 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 directly owns 74,616 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Redfin Trading Down 0.1 %

Shares of RDFN opened at $10.21 on Friday. The stock has a market cap of $1.29 billion, a P/E ratio of -7.98 and a beta of 2.90. The stock’s 50-day moving average price is $8.72 and its two-hundred day moving average price is $9.47. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RDFN shares. Gordon Haskett upgraded Redfin to a “hold” rating in a research note on Monday, March 10th. Citigroup dropped their target price 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. Zelman & Associates raised shares of Redfin to a “strong-buy” rating in a research note on Wednesday, March 5th. Susquehanna dropped their price objective on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. One investment 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, Redfin currently has a consensus rating of “Hold” and a consensus target price of $10.03.

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.