Susquehanna Cuts Redfin (NASDAQ:RDFN) Price Target to $7.00

Redfin (NASDAQ:RDFN) had its price target decreased by Susquehanna from $10.00 to $7.00 in a research report released on Monday,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other research analysts have also recently commented on RDFN. The Goldman Sachs Group cut 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 note on Monday, November 18th. Citigroup cut their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday. Wedbush boosted their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.14.

Redfin Stock Performance

NASDAQ:RDFN opened at $6.40 on Monday. Redfin has a one year low of $5.10 and a one year high of $15.29. The business’s 50-day simple moving average is $7.98 and its 200 day simple moving average is $9.48. The stock has a market cap of $808.89 million, a price-to-earnings ratio of -5.00 and a beta of 2.90.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 16,333 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the sale, the insider now directly owns 73,466 shares in the company, valued at approximately $620,053.04. This represents a 18.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

A number of institutional investors and hedge funds have recently made changes to their positions in RDFN. Hennessy Advisors Inc. acquired a new stake in shares of Redfin during the 4th quarter worth approximately $40,109,000. Two Sigma Advisers LP grew its holdings in Redfin by 124.9% in the 3rd quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after buying an additional 1,193,900 shares in the last quarter. Tidal Investments LLC bought a new position in Redfin in the 3rd quarter worth approximately $10,650,000. BNP Paribas Financial Markets grew its holdings in Redfin by 476.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock worth $10,018,000 after buying an additional 660,872 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Redfin by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company’s stock worth $4,855,000 after buying an additional 290,545 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

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.