Analysts Set Redfin Co. (NASDAQ:RDFN) PT at $9.16

Shares of Redfin Co. (NASDAQ:RDFN) have received an average rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.16.

Several analysts recently issued reports on the company. Susquehanna increased their price objective on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. The Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and increased their target price for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. JPMorgan Chase & Co. increased their target price on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Citigroup lowered their target price on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, DA Davidson reissued a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Tuesday, November 19th.

Insider Activity

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total value of $70,955.31. Following the completion of the transaction, the insider now owns 29,978 shares in the company, valued at $252,714.54. The trade was a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christian John Taubman sold 16,333 shares of Redfin stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the completion of the transaction, the insider now owns 73,466 shares of the company’s stock, valued at $620,053.04. The trade was a 18.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Redfin by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after acquiring an additional 92,023 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Redfin in the third quarter worth approximately $10,650,000. Ballentine Partners LLC acquired a new stake in shares of Redfin during the 4th quarter valued at $81,000. SG Americas Securities LLC acquired a new position in shares of Redfin in the third quarter worth $616,000. Finally, Geode Capital Management LLC raised its holdings in shares of Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after acquiring an additional 66,018 shares in the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Stock Performance

RDFN opened at $8.30 on Friday. The company’s 50 day simple moving average is $8.33 and its 200 day simple moving average is $9.41. Redfin has a 1 year low of $5.10 and a 1 year high of $15.29. The stock has a market capitalization of $1.03 billion, a PE ratio of -6.48 and a beta of 2.66.

Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The business had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. As a group, sell-side analysts expect that Redfin will post -1.25 earnings per share for the current fiscal year.

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.