Redfin (NASDAQ:RDFN) Price Target Cut to $7.00 by Analysts at Susquehanna

Redfin (NASDAQ:RDFN) had its price objective reduced by Susquehanna from $10.00 to $7.00 in a research note issued to investors on Monday,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other research analysts also recently commented on the company. DA Davidson reaffirmed a “neutral” rating and set a $7.25 target price on shares of Redfin in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday. Citigroup lowered their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Finally, Wedbush increased their price objective on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.14.

Redfin Stock Performance

RDFN stock opened at $6.09 on Monday. The company has a market capitalization of $755.04 million, a P/E ratio of -4.76 and a beta of 2.66. The company has a fifty day moving average price of $8.02 and a 200-day moving average price of $9.49. Redfin has a 52-week low of $5.10 and a 52-week high of $15.29.

Insider Transactions at Redfin

In other Redfin news, insider Christian John Taubman sold 16,333 shares of the company’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 transaction, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. This represents a 18.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hennessy Advisors Inc. purchased a new stake in shares of Redfin in the fourth quarter valued at about $40,109,000. Geode Capital Management LLC lifted its position in shares of Redfin by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 3,079,813 shares of the company’s stock worth $24,243,000 after buying an additional 56,865 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Redfin by 17.4% during the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock worth $19,865,000 after buying an additional 374,200 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Redfin by 11.0% in the 4th quarter. Northern Trust Corp now owns 1,147,666 shares of the company’s stock worth $9,032,000 after buying an additional 113,466 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Redfin by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock valued at $8,042,000 after acquiring an additional 23,621 shares in the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.

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.