Redfin (NASDAQ:RDFN) Upgraded at Zelman & Associates

Zelman & Associates upgraded shares of Redfin (NASDAQ:RDFN) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. Susquehanna decreased their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and upped their price target for the company from $6.00 to $6.50 in a report on Monday, November 18th. Piper Sandler reduced their price objective on shares of Redfin from $7.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Wedbush boosted their target price on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Redfin currently has a consensus rating of “Hold” and an average target price of $8.63.

Redfin Price Performance

Shares of NASDAQ RDFN opened at $5.82 on Wednesday. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The business’s 50 day moving average is $7.89 and its two-hundred day moving average is $9.43. The stock has a market capitalization of $735.58 million, a P/E ratio of -4.55 and a beta of 2.90.

Insiders Place Their Bets

In other news, 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 value of $137,850.52. Following the completion of the sale, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. The trade was a 18.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Several institutional investors have recently bought and sold shares of RDFN. Creative Planning lifted 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 during the period. Cerity Partners LLC lifted its stake in shares of Redfin by 3.3% during the 4th quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock worth $293,000 after purchasing an additional 1,189 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Redfin by 10.7% during the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock worth $125,000 after purchasing an additional 1,529 shares during the last quarter. US Bancorp DE boosted its position in Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new position in Redfin in the third quarter valued at about $25,000. 61.07% of the stock is owned by hedge funds and other institutional investors.

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.