Redfin (NASDAQ:RDFN) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Redfin (NASDAQ:RDFN) from an underweight rating to a neutral rating in a research note published on Tuesday,Benzinga reports. The brokerage currently has $12.50 target price on the stock, up from their previous target price of $4.00.

RDFN has been the topic of a number of other reports. Susquehanna decreased their price objective on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. DA Davidson restated a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a report on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Redfin currently has an average rating of “Hold” and an average target price of $9.48.

Redfin Price Performance

Shares of RDFN stock opened at $10.50 on Tuesday. The company has a market capitalization of $1.33 billion, a PE ratio of -8.20 and a beta of 2.90. The firm’s 50-day moving average is $7.97 and its two-hundred day moving average is $9.42. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29.

Insider Buying and Selling

In related 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.40% of the stock is owned by insiders.

Institutional Trading of Redfin

A number of institutional investors have recently bought and sold shares of the business. Creative Planning raised its position in shares of Redfin by 8.1% during the 3rd quarter. Creative Planning now owns 15,826 shares of the company’s stock worth $198,000 after acquiring an additional 1,181 shares in the last quarter. Entropy Technologies LP increased its stake in Redfin by 119.1% in the third quarter. Entropy Technologies LP now owns 46,357 shares of the company’s stock valued at $581,000 after purchasing an additional 25,200 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Redfin by 53.2% during the third quarter. GSA Capital Partners LLP now owns 139,203 shares of the company’s stock worth $1,744,000 after purchasing an additional 48,313 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Redfin during the 3rd quarter worth approximately $291,000. Finally, Quest Partners LLC acquired a new position in shares of Redfin in the 3rd quarter valued at $47,000. 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.