Redfin (NASDAQ:RDFN) Stock Price Down 5.2% – Time to Sell?

Redfin Co. (NASDAQ:RDFN) fell 5.2% during mid-day trading on Thursday . The company traded as low as $10.58 and last traded at $10.59. 935,689 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 5,493,906 shares. The stock had previously closed at $11.17.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Susquehanna dropped their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Wedbush reissued a “neutral” rating and issued a $8.00 price target on shares of Redfin in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Finally, DA Davidson restated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Redfin has a consensus rating of “Hold” and a consensus target price of $7.88.

Redfin Stock Performance

The company has a 50-day moving average price of $10.79 and a 200-day moving average price of $8.03. The firm has a market capitalization of $1.37 billion, a P/E ratio of -9.60 and a beta of 2.68.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The firm had revenue of $295.20 million during the quarter, compared to analyst estimates of $291.59 million. During the same quarter in the prior year, the business earned ($0.25) earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts predict that Redfin Co. will post -1.13 EPS for the current year.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the sale, the insider now directly owns 71,720 shares in the company, valued at approximately $663,410. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after buying an additional 2,446 shares in the last quarter. Creative Planning lifted its holdings in Redfin by 8.1% during the 3rd quarter. Creative Planning now owns 15,826 shares of the company’s stock valued at $198,000 after purchasing an additional 1,181 shares during the last quarter. Clarius Group LLC increased its holdings in shares of Redfin by 49.5% in the third quarter. Clarius Group LLC now owns 134,554 shares of the company’s stock valued at $1,686,000 after purchasing an additional 44,532 shares during the last quarter. CWM LLC lifted its stake in shares of Redfin by 45.6% during the 3rd quarter. CWM LLC now owns 8,725 shares of the company’s stock worth $109,000 after buying an additional 2,734 shares during the last quarter. Finally, Axiom Advisory LLC boosted its holdings in shares of Redfin by 106.5% during the 3rd quarter. Axiom Advisory LLC now owns 63,104 shares of the company’s stock worth $791,000 after buying an additional 32,538 shares during the period. 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.