Redfin Co. (NASDAQ:RDFN) Receives $8.98 Average PT from Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have been given a consensus recommendation of “Hold” by the twelve research firms that are covering the company, MarketBeat.com reports. Two 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 price objective among analysts that have issued a report on the stock in the last year is $8.98.

Several research analysts have recently commented on RDFN shares. Wedbush boosted their price objective on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Susquehanna upped their price target on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Jefferies Financial Group raised their price target on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. DA Davidson restated a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price target on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th.

Insider Buying and Selling

In other news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total transaction of $70,955.31. Following the sale, the insider now directly owns 29,978 shares of the company’s stock, valued at $252,714.54. The trade was a 21.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. lifted its stake in Redfin by 282.1% during the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after buying an additional 2,821 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Redfin in the 3rd quarter valued at approximately $25,000. Blue Trust Inc. boosted its stake in Redfin by 285.7% in the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after purchasing an additional 2,446 shares during the period. Quest Partners LLC acquired a new position in Redfin in the 3rd quarter worth approximately $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Redfin during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Stock Down 0.2 %

NASDAQ:RDFN opened at $9.61 on Friday. Redfin has a 52 week low of $5.10 and a 52 week high of $15.29. The company has a market cap of $1.19 billion, a PE ratio of -7.38 and a beta of 2.70. The business’s 50 day moving average is $10.70 and its two-hundred day moving average is $8.75.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million during the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, sell-side analysts expect that Redfin will post -1.23 EPS 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.