Redfin Co. (NASDAQ:RDFN) Receives $10.45 Average PT from Analysts

Redfin Co. (NASDAQ:RDFN) has been assigned an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $10.45.

Several brokerages recently commented on RDFN. Gordon Haskett upgraded shares of Redfin to a “hold” rating in a research report on Monday, March 10th. Stephens dropped their price target on Redfin from $12.50 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Benchmark restated a “mixed” rating on shares of Redfin in a research report on Monday, May 19th. Royal Bank of Canada upped their target price on Redfin from $8.00 to $12.50 and gave the company a “sector perform” rating in a report on Tuesday, April 15th. Finally, Piper Sandler upgraded shares of Redfin from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $4.00 to $12.50 in a report on Tuesday, March 11th.

Redfin Trading Up 1.2%

NASDAQ:RDFN opened at $9.90 on Friday. The company has a 50-day moving average of $9.49 and a 200-day moving average of $8.86. Redfin has a twelve month low of $5.49 and a twelve month high of $15.29. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -7.73 and a beta of 2.50.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to the consensus estimate of $220.89 million. During the same quarter in the prior year, the company earned ($0.57) earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, research analysts forecast that Redfin will post -1.25 earnings per share for the current year.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Several institutional investors have recently bought and sold shares of the stock. Bayforest Capital Ltd bought a new position in Redfin during the first quarter valued at about $110,000. Optimize Financial Inc grew its position in shares of Redfin by 46.7% in the first quarter. Optimize Financial Inc now owns 22,776 shares of the company’s stock valued at $210,000 after purchasing an additional 7,251 shares during the last quarter. Slotnik Capital LLC acquired a new stake in shares of Redfin in the first quarter valued at about $1,524,000. Jones Financial Companies Lllp grew its position in shares of Redfin by 38,105.3% in the first quarter. Jones Financial Companies Lllp now owns 677,380 shares of the company’s stock valued at $6,239,000 after purchasing an additional 675,607 shares during the last quarter. Finally, PenderFund Capital Management Ltd. acquired a new stake in shares of Redfin in the first quarter valued at about $181,000. 61.07% of the stock is currently owned by 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.