Redfin (NASDAQ:RDFN) Given New $7.00 Price Target at JPMorgan Chase & Co.

Redfin (NASDAQ:RDFN) had its target price reduced by JPMorgan Chase & Co. from $8.00 to $7.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. Wedbush lifted their price target 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. Susquehanna raised their price objective on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. The Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Citigroup lowered their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, DA Davidson reissued a “neutral” rating and set a $7.25 price objective on shares of Redfin in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.14.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $6.09 on Monday. The company’s fifty day moving average price is $8.02 and its 200 day moving average price is $9.49. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29. The firm has a market capitalization of $755.04 million, a P/E ratio of -4.76 and a beta of 2.66.

Insider Activity

In other news, insider Christian John Taubman sold 16,333 shares of Redfin stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the sale, the insider now owns 73,466 shares of the company’s stock, valued at $620,053.04. The trade was 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 accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

A number of institutional investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in Redfin by 8.1% during the third quarter. Creative Planning now owns 15,826 shares of the company’s stock worth $198,000 after buying an additional 1,181 shares in the last quarter. Cerity Partners LLC boosted its holdings in Redfin by 3.3% during the fourth quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock worth $293,000 after buying an additional 1,189 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Redfin by 10.7% during the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock worth $125,000 after buying an additional 1,529 shares in the last quarter. US Bancorp DE boosted its holdings in Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after buying an additional 1,799 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new stake in Redfin during the third quarter worth about $25,000. 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.