Redfin (NASDAQ:RDFN) PT Raised to $11.50

Redfin (NASDAQ:RDFN) had its price target raised by Jefferies Financial Group from $7.50 to $11.50 in a report released on Tuesday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

RDFN has been the topic of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. B. Riley lifted their price objective on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, September 30th. DA Davidson reiterated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research report on Wednesday, July 3rd. Finally, Wedbush reiterated a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.20.

Redfin Stock Performance

Redfin stock opened at $9.99 on Tuesday. The firm’s 50-day moving average is $11.07 and its 200-day moving average is $8.17. Redfin has a 1 year low of $4.26 and a 1 year high of $15.29. The company has a market cap of $1.19 billion, a P/E ratio of -8.39 and a beta of 2.68.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $295.20 million during the quarter, compared to the consensus estimate of $291.59 million. During the same quarter in the previous year, the business posted ($0.25) earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that Redfin will post -1.13 earnings per share for the current year.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the sale, the insider now directly owns 71,720 shares in the company, valued at approximately $663,410. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Redfin

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Redfin by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 17,238,307 shares of the company’s stock worth $177,899,000 after acquiring an additional 1,260,746 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Redfin by 205.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after acquiring an additional 3,101 shares in the last quarter. CAP Partners LLC increased its position in shares of Redfin by 18.5% in the first quarter. CAP Partners LLC now owns 31,633 shares of the company’s stock worth $210,000 after acquiring an additional 4,939 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Redfin in the first quarter worth approximately $72,000. Finally, Principal Financial Group Inc. increased its position in shares of Redfin by 17.7% in the first quarter. Principal Financial Group Inc. now owns 14,872 shares of the company’s stock worth $99,000 after acquiring an additional 2,241 shares in the last quarter. Institutional investors and hedge funds 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.