Redfin Co. (NASDAQ:RDFN) Receives $9.16 Average Price Target from Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have earned an average recommendation of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $9.16.

Several research firms recently weighed in on RDFN. JPMorgan Chase & Co. boosted their price target on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Jefferies Financial Group boosted their target price on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Finally, Susquehanna raised their target price on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, November 11th.

Insider Activity at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total transaction of $70,955.31. Following the sale, the insider now owns 29,978 shares of the company’s stock, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christian John Taubman sold 16,333 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 73,466 shares of the company’s stock, valued at $620,053.04. The trade was a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redfin

A number of institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings 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 period. Tidal Investments LLC purchased a new position in shares of Redfin during the 3rd quarter valued at $10,650,000. Ballentine Partners LLC bought a new position in shares of Redfin in the fourth quarter worth $81,000. SG Americas Securities LLC purchased a new stake in shares of Redfin in the third quarter worth $616,000. Finally, Geode Capital Management LLC boosted its stake in Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after buying an additional 66,018 shares during the period. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Stock Down 1.0 %

Shares of NASDAQ:RDFN opened at $8.55 on Friday. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -6.68 and a beta of 2.66. The business’s 50 day moving average is $8.23 and its 200 day moving average is $9.40. Redfin has a 12-month low of $5.10 and a 12-month high of $15.29.

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.