Redfin Co. (NASDAQ:RDFN) Receives Consensus Rating of “Hold” from Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $8.63.

Several analysts recently commented on the company. Zelman & Associates raised Redfin to a “strong-buy” rating in a report on Wednesday. Susquehanna decreased their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Piper Sandler decreased their price target on Redfin from $7.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, The Goldman Sachs Group downgraded Redfin from a “neutral” rating to a “sell” rating and boosted their price target for the company from $6.00 to $6.50 in a report on Monday, November 18th.

Insider Transactions at Redfin

In related news, insider Christian John Taubman sold 16,333 shares of the business’s 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 completion of the sale, the insider now directly owns 73,466 shares in the company, valued at approximately $620,053.04. The trade was a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

Several large investors have recently made changes to their positions in RDFN. Creative Planning increased its position in shares of Redfin by 8.1% during the third quarter. Creative Planning now owns 15,826 shares of the company’s stock worth $198,000 after purchasing an additional 1,181 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Redfin during the third quarter worth approximately $48,000. Financial Advocates Investment Management increased its position in shares of Redfin by 21.6% during the third quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock worth $148,000 after purchasing an additional 2,100 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Redfin during the third quarter worth approximately $25,000. Finally, Entropy Technologies LP increased its position in shares of Redfin by 119.1% during the third quarter. Entropy Technologies LP now owns 46,357 shares of the company’s stock worth $581,000 after purchasing an additional 25,200 shares in the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Price Performance

NASDAQ RDFN opened at $5.82 on Tuesday. Redfin has a 1 year low of $5.10 and a 1 year high of $15.29. The company has a market capitalization of $735.58 million, a PE ratio of -4.55 and a beta of 2.90. The company has a fifty day moving average of $7.84 and a 200 day moving average of $9.41.

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.