Redfin (NASDAQ:RDFN) Given Neutral Rating at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Redfin (NASDAQ:RDFN) in a research report report published on Tuesday,Benzinga reports. They currently have a $7.25 target price on the stock.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Wedbush raised their price target on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. B. Riley boosted 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. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group raised their price target on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $8.98.

Redfin Price Performance

Shares of RDFN stock opened at $9.16 on Tuesday. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The firm’s 50-day simple moving average is $10.78 and its 200-day simple moving average is $8.70. The firm has a market cap of $1.14 billion, a P/E ratio of -7.16 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data 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) EPS. Analysts expect that Redfin will post -1.23 earnings per share for the current fiscal year.

Insider Activity at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $8.43, for a total transaction of $70,955.31. Following the transaction, the insider now directly owns 29,978 shares in the company, valued at $252,714.54. This trade represents a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Redfin

Institutional investors and hedge funds have recently modified their holdings of the company. Hollencrest Capital Management bought a new position in Redfin in the 3rd quarter worth $25,000. Blue Trust Inc. grew its position 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 purchasing an additional 2,446 shares during the last quarter. Quest Partners LLC bought a new position in shares of Redfin in the third quarter worth about $47,000. Mather Group LLC. lifted its position in shares of Redfin by 282.1% during the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after purchasing an additional 2,821 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Redfin during the 3rd quarter valued at approximately $48,000. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Redfin Company Profile

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.