Redfin Co. (NASDAQ:RDFN) Receives $8.98 Consensus Target Price from Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have earned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.98.

RDFN has been the topic of several research reports. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Tuesday, November 19th. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. B. Riley raised their price target on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wedbush upped their price objective on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group lifted their target price on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd.

Redfin Trading Up 0.5 %

NASDAQ RDFN opened at $9.66 on Friday. 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 of $10.53 and a 200-day moving average of $8.77. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -7.55 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last released 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 company had revenue of $278.02 million during the quarter, compared to analysts’ expectations of $280.21 million. During the same period last year, the company earned ($0.17) earnings per share. On average, analysts forecast that Redfin will post -1.23 earnings per share for the current year.

Insider Activity

In related 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 sale, the insider now owns 29,978 shares of the company’s stock, valued at approximately $252,714.54. This trade represents a 21.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redfin

Large investors have recently modified their holdings of the business. Mather Group LLC. grew its position in shares of Redfin by 282.1% in the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after purchasing an additional 2,821 shares during the period. Hollencrest Capital Management bought a new position in Redfin in the third quarter valued at approximately $25,000. Blue Trust Inc. boosted its holdings in shares of Redfin by 285.7% in the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after buying an additional 2,446 shares during the period. Quest Partners LLC bought a new stake in shares of Redfin during the third quarter worth $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Redfin during the third quarter worth $48,000. 61.07% of the stock is currently owned by 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.