Redfin Co. (NASDAQ:RDFN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have earned a consensus rating of “Hold” from the twelve research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $8.98.

RDFN has been the topic of several analyst reports. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and upped their price target for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 target price on shares of Redfin in a report on Tuesday, November 19th. B. Riley lifted their price target on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. upped their price objective on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th.

Redfin Price Performance

RDFN stock opened at $9.16 on Friday. The stock has a market capitalization of $1.14 billion, a P/E ratio of -7.16 and a beta of 2.70. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The business has a 50-day moving average of $10.78 and a 200-day moving average of $8.72.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The business had revenue of $278.02 million during the quarter, compared to analysts’ expectations of $280.21 million. During the same period in the prior year, the business posted ($0.17) earnings per share. Equities analysts expect that Redfin will post -1.23 EPS for the current year.

Insider Transactions at Redfin

In related news, insider Anthony Ray Kappus sold 8,417 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was 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. This represents a 21.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Redfin by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after buying an additional 1,953,127 shares during the last quarter. Geode Capital Management LLC grew its position in Redfin by 2.2% in the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after acquiring an additional 66,018 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after acquiring an additional 445,486 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Redfin by 124.9% in the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after acquiring an additional 1,193,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Redfin by 210.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock valued at $13,687,000 after purchasing an additional 740,759 shares in the last quarter. 61.07% of the stock is owned by institutional investors.

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.