Analysts Set Redfin Co. (NASDAQ:RDFN) Target Price at $10.03

Shares of Redfin Co. (NASDAQ:RDFN) have received a consensus rating of “Hold” from the thirteen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.03.

A number of equities analysts recently issued reports on RDFN shares. Citigroup decreased their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their target price on Redfin from $7.00 to $12.50 and gave the company a “neutral” rating in a research note on Monday, March 24th. Gordon Haskett raised Redfin to a “hold” rating in a research note on Monday, March 10th. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $4.00 to $12.50 in a research report on Tuesday, March 11th. Finally, Susquehanna decreased their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd.

Redfin Trading Down 0.8 %

Shares of Redfin stock opened at $10.20 on Friday. The company’s fifty day simple moving average is $8.92 and its two-hundred day simple moving average is $9.40. Redfin has a 12-month low of $5.10 and a 12-month high of $15.29. The company has a market cap of $1.29 billion, a P/E ratio of -7.97 and a beta of 2.56.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the transaction, the insider now directly owns 74,616 shares of the company’s stock, valued at $831,968.40. This represents a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

A number of hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Redfin by 10.2% during 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 during the last quarter. Tidal Investments LLC bought a new position in Redfin during the third quarter valued at approximately $10,650,000. Ballentine Partners LLC purchased a new stake in Redfin in the fourth quarter worth approximately $81,000. Geode Capital Management LLC grew its position in Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after purchasing an additional 66,018 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in Redfin during the 4th quarter valued at $197,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

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.