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

Redfin Co. (NASDAQ:RDFN) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $9.14.

RDFN has been the subject of a number of recent research reports. DA Davidson reissued a “neutral” rating and issued a $7.25 target price on shares of Redfin in a report on Wednesday, February 19th. Susquehanna cut their target price on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday. Citigroup dropped their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. 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. Finally, The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $6.00 to $6.50 in a research note on Monday, November 18th.

Insider Activity

In other news, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction on 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

Large investors have recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new stake in shares of Redfin during the third quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Redfin in the fourth quarter worth about $27,000. R Squared Ltd purchased a new stake in Redfin in the fourth quarter worth about $33,000. US Bancorp DE lifted its stake in Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after acquiring an additional 1,799 shares during the period. Finally, Blue Trust Inc. lifted its stake in Redfin by 76.3% in the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after acquiring an additional 2,520 shares during the period. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Price Performance

Shares of RDFN opened at $6.09 on Tuesday. Redfin has a 1 year low of $5.10 and a 1 year high of $15.29. The company has a 50 day simple moving average of $8.02 and a two-hundred day simple moving average of $9.49. The firm has a market cap of $755.04 million, a P/E ratio of -4.76 and a beta of 2.66.

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.