Pinnacle Wealth Planning Services Inc. Sells 8,097 Shares of Redfin Co. (NASDAQ:RDFN)

Pinnacle Wealth Planning Services Inc. decreased its position in Redfin Co. (NASDAQ:RDFN) by 44.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,009 shares of the company’s stock after selling 8,097 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Redfin were worth $79,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RDFN. Hollencrest Capital Management bought a new position in Redfin during the third quarter valued at about $25,000. R Squared Ltd bought a new position in Redfin during the fourth quarter worth about $33,000. US Bancorp DE boosted its position in Redfin by 48.3% during 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 period. Blue Trust Inc. boosted its position in Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after purchasing an additional 2,520 shares during the period. Finally, Quest Partners LLC bought a new position in Redfin during the third quarter worth about $47,000. Institutional investors own 61.07% of the company’s stock.

Analysts Set New Price Targets

RDFN has been the subject of a number of research reports. Piper Sandler cut their target price on shares of Redfin from $7.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and increased their target price for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Susquehanna lowered their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Citigroup lowered their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.63.

Redfin Trading Down 0.7 %

Shares of NASDAQ:RDFN opened at $5.82 on Friday. The stock has a 50 day moving average of $7.84 and a 200 day moving average of $9.41. The company has a market cap of $735.58 million, a PE ratio of -4.55 and a beta of 2.90. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 16,333 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the sale, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. This represents a 18.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.40% of the stock is owned by insiders.

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.