Analysts Set Redfin Co. (NASDAQ:RDFN) PT at $9.14

Redfin Co. (NASDAQ:RDFN) has been given an average rating of “Hold” by the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.63.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Wednesday, February 19th. Wedbush boosted their price objective on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Citigroup dropped their target price 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.

Redfin Stock Performance

Shares of NASDAQ RDFN opened at $5.86 on Tuesday. The firm’s 50 day moving average price is $7.94 and its 200-day moving average price is $9.46. Redfin has a 52-week low of $5.10 and a 52-week high of $15.29. The company has a market cap of $740.64 million, a PE ratio of -4.58 and a beta of 2.90.

Insiders Place Their Bets

In other Redfin 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 value of $137,850.52. Following the completion of the sale, the insider now owns 73,466 shares in the company, valued at $620,053.04. This represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDFN. Hennessy Advisors Inc. purchased a new position in Redfin during the fourth quarter valued at approximately $40,109,000. Geode Capital Management LLC lifted its stake in shares of Redfin by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 3,079,813 shares of the company’s stock valued at $24,243,000 after buying an additional 56,865 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Redfin by 17.4% in the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock worth $19,865,000 after buying an additional 374,200 shares during the period. Northern Trust Corp boosted its holdings in Redfin by 11.0% in the 4th quarter. Northern Trust Corp now owns 1,147,666 shares of the company’s stock worth $9,032,000 after buying an additional 113,466 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Redfin by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock worth $8,042,000 after buying an additional 23,621 shares in the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.

About Redfin

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.