Redfin Co. (NASDAQ:RDFN) Given Consensus Rating of “Hold” by Brokerages

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

Several equities research analysts have issued reports on RDFN shares. Susquehanna lifted their price target on shares of Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Jefferies Financial Group lifted their target price on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Citigroup reduced their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. DA Davidson restated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research note on Tuesday, November 19th. Finally, Wedbush upped their price objective on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th.

Redfin Stock Performance

NASDAQ:RDFN opened at $8.47 on Friday. The company has a market cap of $1.05 billion, a PE ratio of -6.62 and a beta of 2.66. The stock has a 50-day simple moving average of $8.36 and a 200 day simple moving average of $9.38. 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 data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The firm had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the previous year, the business earned ($0.17) EPS. On average, research analysts predict that Redfin will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the 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 transaction, the insider now owns 29,978 shares in the company, valued at $252,714.54. This trade represents a 21.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the sale, 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 position. 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 bought and sold shares of the business. Hennessy Advisors Inc. acquired a new position in shares of Redfin during the 4th quarter worth approximately $40,109,000. Two Sigma Advisers LP grew its position in Redfin by 124.9% during the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after buying an additional 1,193,900 shares in the last quarter. Tidal Investments LLC bought a new position in Redfin during the 3rd quarter worth $10,650,000. Assenagon Asset Management S.A. raised its holdings in 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 acquiring an additional 740,759 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Redfin by 476.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock valued at $10,018,000 after acquiring an additional 660,872 shares during the period. Institutional investors and hedge funds 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.