Fred Alger Management Inc. purchased a new position in shares of Redfin Corp (NASDAQ:RDFN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 147,943 shares of the company’s stock, valued at approximately $4,634,000. Fred Alger Management Inc. owned about 0.18% of Redfin as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in RDFN. Greylock Xii GP LLC purchased a new position in Redfin during the 4th quarter worth approximately $260,254,000. Jackson Square Partners LLC purchased a new position in Redfin during the 4th quarter worth approximately $51,927,000. Hillman Co. purchased a new position in Redfin during the 3rd quarter worth approximately $31,321,000. Dragoneer Investment Group LLC purchased a new position in Redfin during the 3rd quarter worth approximately $24,242,000. Finally, Allianz Asset Management GmbH purchased a new position in Redfin during the 4th quarter worth approximately $18,878,000. Hedge funds and other institutional investors own 52.76% of the company’s stock.
Redfin Corp (NASDAQ RDFN) opened at $22.98 on Monday. Redfin Corp has a 12 month low of $19.18 and a 12 month high of $33.49.
In other Redfin news, CTO Bridget Frey sold 5,000 shares of Redfin stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.66, for a total value of $103,300.00. Following the transaction, the chief technology officer now directly owns 42,083 shares in the company, valued at approximately $869,434.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher John Nielsen sold 25,000 shares of Redfin stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $20.51, for a total value of $512,750.00. Following the completion of the sale, the chief financial officer now owns 25,000 shares in the company, valued at $512,750. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $1,054,250 over the last quarter.
RDFN has been the topic of a number of research reports. BidaskClub upgraded Redfin from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th. William Blair restated an “outperform” rating on shares of Redfin in a research note on Thursday, February 1st. Zacks Investment Research downgraded Redfin from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. KeyCorp initiated coverage on Redfin in a research note on Tuesday, December 19th. They set a “sector weight” rating on the stock. Finally, Oppenheimer restated a “buy” rating on shares of Redfin in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $25.73.
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Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.
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