Redfin (NASDAQ:RDFN) Receives “Neutral” Rating from DA Davidson

DA Davidson restated their neutral rating on shares of Redfin (NASDAQ:RDFN) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $7.25 price target on the stock.

Several other research firms have also recently weighed in on RDFN. Jefferies Financial Group lifted their price target on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Citigroup dropped their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $6.00 to $6.50 in a report on Monday, November 18th. Susquehanna lifted their price objective on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.16.

Redfin Trading Up 1.7 %

NASDAQ:RDFN opened at $8.99 on Wednesday. The stock has a market cap of $1.11 billion, a P/E ratio of -7.02 and a beta of 2.66. The stock has a 50 day simple moving average of $8.17 and a 200 day simple moving average of $9.44. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29.

Insider Activity

In related news, insider Christian John Taubman sold 16,333 shares of the business’s 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 $620,053.04. The trade was a 18.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction 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 in the company, valued at $252,714.54. This represents a 21.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 92,023 shares during the last quarter. Tidal Investments LLC bought a new stake in Redfin during the 3rd quarter worth $10,650,000. Ballentine Partners LLC bought a new stake in Redfin during the 4th quarter worth $81,000. Geode Capital Management LLC grew its position in Redfin by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after acquiring an additional 66,018 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Redfin by 476.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock worth $10,018,000 after acquiring an additional 660,872 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.

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.