Redfin Co. (NASDAQ:RDFN) Given Average Rating of “Hold” by Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have earned an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.98.

RDFN has been the subject of a number of research reports. Jefferies Financial Group increased their target price on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and lifted their target price for the company from $6.00 to $6.50 in a research report on Monday, November 18th. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. Wedbush lifted their price objective on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, B. Riley increased their target price on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 30th.

Insider Activity at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total transaction of $70,955.31. Following the completion of the sale, the insider now owns 29,978 shares of the company’s stock, valued at $252,714.54. This trade represents a 21.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redfin

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. acquired a new position in Redfin in the 3rd quarter valued at about $161,000. Tidal Investments LLC acquired a new position in Redfin in the 3rd quarter valued at $10,650,000. Geode Capital Management LLC increased its position in Redfin by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after buying an additional 66,018 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Redfin during the third quarter worth $174,000. Finally, XTX Topco Ltd bought a new stake in shares of Redfin in the third quarter valued at about $455,000. 61.07% of the stock is owned by institutional investors.

Redfin Price Performance

NASDAQ:RDFN opened at $8.54 on Thursday. The business’s 50-day simple moving average is $9.66 and its 200-day simple moving average is $9.08. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The stock has a market capitalization of $1.06 billion, a PE ratio of -6.67 and a beta of 2.63.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The business had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. On average, research analysts expect that Redfin will post -1.25 earnings per share for the current year.

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.