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

Redfin Co. (NASDAQ:RDFN) has received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.16.

A number of research firms recently issued reports on RDFN. Citigroup lowered their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. 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 note on Monday, November 18th. Wedbush lifted their price objective on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group increased their target price on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th.

Redfin Stock Down 1.1 %

NASDAQ:RDFN opened at $7.34 on Monday. The stock has a market cap of $910.01 million, a PE ratio of -5.73 and a beta of 2.64. The business’s 50-day simple moving average is $8.90 and its two-hundred day simple moving average is $9.26. Redfin has a 52 week low of $5.10 and a 52 week high of $15.29.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The business had revenue of $278.02 million during the quarter, compared to analyst estimates of $280.21 million. During the same period last year, the firm earned ($0.17) EPS. Sell-side analysts anticipate that Redfin will post -1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 29,978 shares in the company, valued at $252,714.54. This represents a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian John Taubman sold 16,333 shares of the business’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 approximately $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 corporate insiders.

Institutional Trading of Redfin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new stake in Redfin during the 3rd quarter worth approximately $25,000. Blue Trust Inc. lifted its stake 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 during the period. Quest Partners LLC purchased a new stake in shares of Redfin during the third quarter valued at $47,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Redfin during the third quarter valued at $48,000. Finally, Algert Global LLC acquired a new position in shares of Redfin in the 2nd quarter valued at $72,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

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.