JPMorgan Chase & Co. Raises Redfin (NASDAQ:RDFN) Price Target to $12.50

Redfin (NASDAQ:RDFN) had its target price increased by JPMorgan Chase & Co. from $7.00 to $12.50 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also issued research reports about the company. Susquehanna dropped their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. B. Riley lowered shares of Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. Citigroup lowered their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, Gordon Haskett upgraded Redfin to a “hold” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.03.

Redfin Price Performance

RDFN opened at $10.78 on Monday. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -8.42 and a beta of 2.90. Redfin has a one year low of $5.10 and a one year high of $15.29. The business has a 50 day simple moving average of $8.50 and a two-hundred day simple moving average of $9.46.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Redfin by 14.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 258,481 shares of the company’s stock worth $2,034,000 after acquiring an additional 33,327 shares during the last quarter. Two Sigma Advisers LP grew its position in Redfin by 17.4% during the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock valued at $19,865,000 after purchasing an additional 374,200 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Redfin during the 4th quarter valued at about $27,000. Point72 Asset Management L.P. purchased a new position in Redfin in the fourth quarter worth about $1,018,000. Finally, ProShare Advisors LLC lifted its stake in shares of Redfin by 51.9% in the fourth quarter. ProShare Advisors LLC now owns 33,663 shares of the company’s stock worth $265,000 after buying an additional 11,503 shares in the last quarter. Hedge funds and other 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.