Redfin Co. (NASDAQ:RDFN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have received a consensus rating of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $10.03.

A number of research analysts recently issued reports on the company. Citigroup decreased their target price on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. B. Riley downgraded shares of Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 10th. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price objective on shares of Redfin in a research report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price on shares of Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $10.21 on Friday. The firm has a market capitalization of $1.29 billion, a PE ratio of -7.98 and a beta of 2.90. Redfin has a 1 year low of $5.10 and a 1 year high of $15.29. The firm’s 50-day moving average is $8.72 and its two-hundred day moving average is $9.48.

Insider Transactions at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction on Friday, March 21st. The shares were sold at an average price of $11.15, for a total value of $180,730.35. Following the transaction, the insider now directly owns 74,616 shares in the company, valued at $831,968.40. This trade represents a 17.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Redfin during the 4th quarter worth approximately $27,000. R Squared Ltd acquired a new position in Redfin during the fourth quarter worth $33,000. US Bancorp DE raised its position 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 in the last quarter. Blue Trust Inc. lifted its holdings in Redfin by 76.3% in the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after acquiring an additional 2,520 shares during the period. Finally, Quest Partners LLC acquired a new stake in Redfin in the third quarter valued at $47,000. 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.