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

Federated Hermes Inc. reduced its holdings in Redfin Co. (NASDAQ:RDFN – Get Rating) by 74.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,164 shares of the company’s stock after selling 509,645 shares during the period. Federated Hermes Inc.’s holdings in Redfin were worth $1,000,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Great West Life Assurance Co. Can acquired a new stake in shares of Redfin in the third quarter worth approximately $26,000. Guggenheim Capital LLC acquired a new stake in shares of Redfin in the third quarter worth approximately $60,000. Cetera Investment Advisers acquired a new stake in shares of Redfin in the second quarter worth approximately $87,000. Cetera Advisor Networks LLC acquired a new stake in shares of Redfin in the second quarter worth approximately $100,000. Finally, Fortis Capital Management LLC boosted its stake in shares of Redfin by 16.1% in the third quarter. Fortis Capital Management LLC now owns 14,687 shares of the company’s stock worth $86,000 after acquiring an additional 2,032 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RDFN. The Goldman Sachs Group lifted their price objective on Redfin from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. Truist Financial downgraded Redfin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.00 to $5.50 in a research report on Wednesday, December 21st. Citigroup lifted their price objective on Redfin from $5.00 to $8.60 and gave the stock a “neutral” rating in a research report on Tuesday, February 14th. Piper Sandler lifted their price objective on Redfin from $3.00 to $5.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 21st. Finally, DA Davidson lifted their price objective on Redfin from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, March 9th. Three analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to data from MarketBeat, Redfin has a consensus rating of “Hold” and an average target price of $6.73.

Insider Buying and Selling

In related news, CEO Glenn Kelman bought 35,335 shares of the stock in a transaction that occurred on Tuesday, February 21st. The stock was purchased at an average cost of $8.62 per share, with a total value of $304,587.70. Following the purchase, the chief executive officer now directly owns 1,216,837 shares of the company’s stock, valued at approximately $10,489,134.94. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Christian John Taubman sold 11,104 shares of the company’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $4.99, for a total transaction of $55,408.96. Following the completion of the transaction, the insider now directly owns 34,338 shares of the company’s stock, valued at approximately $171,346.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Glenn Kelman acquired 35,335 shares of the stock in a transaction dated Tuesday, February 21st. The shares were acquired at an average cost of $8.62 per share, with a total value of $304,587.70. Following the completion of the transaction, the chief executive officer now owns 1,216,837 shares in the company, valued at approximately $10,489,134.94. The disclosure for this purchase can be found here. 5.20% of the stock is currently owned by insiders.

Redfin Trading Up 14.0 %

RDFN opened at $7.66 on Tuesday. Redfin Co. has a 12 month low of $3.08 and a 12 month high of $21.32. The stock has a market capitalization of $840.57 million, a price-to-earnings ratio of -2.56 and a beta of 2.22. The company has a debt-to-equity ratio of 16.86, a current ratio of 2.19 and a quick ratio of 1.87. The business has a fifty day moving average price of $7.17 and a 200 day moving average price of $6.11.

Redfin Profile

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Redfin Corp. engages in the management of an online real estate marketplace and provision of real estate services. It operates through the following segments: Real Estate Services, Properties, Rentals, Mortgage, and Other. The company was founded by David Selinger, David Eraker, and Michael Dougherty in October 2002 and is headquartered in Seattle, WA.