Redfin (NASDAQ:RDFN) Price Target Raised to $12.50

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

Several other research firms have also weighed in on RDFN. Zelman & Associates raised Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. Gordon Haskett upgraded shares of Redfin to a “hold” rating in a report on Monday, March 10th. Susquehanna decreased their price objective on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Citigroup lowered their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Redfin has an average rating of “Hold” and an average price target of $10.03.

Redfin Price Performance

Redfin stock opened at $10.37 on Monday. The firm has a 50-day moving average of $8.62 and a 200-day moving average of $9.48. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -8.10 and a beta of 2.90. Redfin has a one year low of $5.10 and a one year high of $15.29.

Insider Activity

In other news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the sale, the insider now owns 74,616 shares of the company’s stock, valued at approximately $831,968.40. This trade represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redfin

A number of hedge funds have recently bought and sold shares of the business. Quest Partners LLC acquired a new position in shares of Redfin during the 3rd quarter worth approximately $47,000. Intech Investment Management LLC bought a new position in Redfin during the 3rd quarter worth $461,000. Charles Schwab Investment Management Inc. raised its stake in Redfin by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after purchasing an additional 92,023 shares in the last quarter. Cerity Partners LLC raised its position in shares of Redfin by 13.0% in the 3rd quarter. Cerity Partners LLC now owns 36,096 shares of the company’s stock valued at $452,000 after buying an additional 4,157 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in Redfin by 169.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 40,773 shares of the company’s stock valued at $511,000 after purchasing an additional 25,652 shares in the last quarter. 61.07% of the stock is owned by 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.