Redfin Co. (NASDAQ:RDFN) Receives Average Rating of “Hold” from Analysts

Redfin Co. (NASDAQ:RDFN) has been given a consensus rating of “Hold” by the twelve analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $9.16.

Several research firms have commented on RDFN. Wedbush upped their price target on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Susquehanna increased their price target on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $6.00 to $6.50 in a report on Monday, November 18th.

Redfin Stock Performance

Redfin stock opened at $7.95 on Friday. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The company has a market cap of $985.64 million, a PE ratio of -6.21 and a beta of 2.66. The business’s 50-day simple moving average is $8.27 and its two-hundred day simple moving average is $9.41.

Insider Activity

In other news, insider Christian John Taubman sold 16,333 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the transaction, the insider now directly owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. This represents a 18.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the sale, the insider now owns 29,978 shares of the company’s stock, valued at approximately $252,714.54. The trade was a 21.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Several hedge funds and other institutional investors have recently bought and sold shares of RDFN. Charles Schwab Investment Management Inc. grew its stake in Redfin by 10.2% during the 3rd 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 during the last quarter. Tidal Investments LLC purchased a new position in Redfin during the 3rd quarter worth $10,650,000. Ballentine Partners LLC purchased a new position in Redfin during the 4th quarter worth $81,000. SG Americas Securities LLC purchased a new stake in Redfin during the 3rd quarter valued at approximately $616,000. Finally, Geode Capital Management LLC grew its stake in shares of 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. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Redfin Company 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.