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

Redfin Co. (NASDAQ:RDFN) has earned a consensus rating of “Hold” from the twelve analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $8.98.

RDFN has been the subject of a number of analyst reports. Wedbush upped their price objective on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group upped their price target on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Susquehanna lifted 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. B. Riley increased their target price on Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research report on Tuesday, November 19th.

Redfin Stock Performance

Shares of NASDAQ:RDFN opened at $8.00 on Thursday. The stock has a market capitalization of $991.84 million, a price-to-earnings ratio of -6.25 and a beta of 2.63. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The company has a 50 day moving average price of $9.74 and a 200 day moving average price of $9.04.

Redfin (NASDAQ:RDFN) last issued its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The company had revenue of $278.02 million during the quarter, compared to analyst estimates of $280.21 million. During the same quarter last year, the firm earned ($0.17) EPS. On average, sell-side analysts expect that Redfin will post -1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total value of $70,955.31. Following the completion of the sale, the insider now directly owns 29,978 shares of the company’s stock, valued at $252,714.54. The trade was a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning increased its position 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 last quarter. Arizona State Retirement System boosted its stake in shares of Redfin by 5.4% during the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock worth $201,000 after acquiring an additional 1,710 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of Redfin during the 3rd quarter valued at about $25,000. Financial Advocates Investment Management raised its stake in shares of Redfin by 21.6% in the 3rd quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock valued at $148,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Redfin by 285.7% in the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after purchasing an additional 2,446 shares during the last quarter. 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.