DA Davidson Reiterates Neutral Rating for Redfin (NASDAQ:RDFN)

Redfin (NASDAQ:RDFN)‘s stock had its “neutral” rating reiterated by investment analysts at DA Davidson in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $7.25 target price on the stock. DA Davidson’s price objective would indicate a potential downside of 16.09% from the company’s current price.

RDFN has been the topic of several other research reports. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and raised their price target for the company from $6.00 to $6.50 in a report on Monday, November 18th. Susquehanna raised their target price 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 upped their price target on shares of Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Citigroup cut their price objective on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their target price on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Two research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.16.

Redfin Trading Down 3.9 %

RDFN stock opened at $8.64 on Wednesday. The company has a market cap of $1.07 billion, a PE ratio of -6.75 and a beta of 2.66. The stock has a 50-day moving average price of $8.16 and a two-hundred day moving average price of $9.43. Redfin has a 12-month low of $5.10 and a 12-month high of $15.29.

Insider Activity

In other news, insider Christian John Taubman sold 16,333 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was 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 in the company, valued at $620,053.04. This trade represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

A number of hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Redfin by 14.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 258,481 shares of the company’s stock worth $2,034,000 after purchasing an additional 33,327 shares in the last quarter. Two Sigma Advisers LP grew its stake in Redfin by 17.4% in the fourth quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock worth $19,865,000 after purchasing an additional 374,200 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Redfin in the fourth quarter worth about $27,000. Point72 Asset Management L.P. acquired a new position in Redfin in the fourth quarter worth about $1,018,000. Finally, ProShare Advisors LLC grew its stake in Redfin by 51.9% in the fourth quarter. ProShare Advisors LLC now owns 33,663 shares of the company’s stock worth $265,000 after purchasing an additional 11,503 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

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.