Redfin Co. (NASDAQ:RDFN) Receives $9.16 Consensus Price Target from Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $9.16.

A number of research firms recently commented on RDFN. DA Davidson reissued a “neutral” rating and set a $7.25 price objective on shares of Redfin in a report on Tuesday, November 19th. Susquehanna raised their price objective on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Wedbush lifted their price objective on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Citigroup dropped their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $6.00 to $6.50 in a research report on Monday, November 18th.

Redfin Trading Down 4.6 %

NASDAQ RDFN opened at $7.95 on Friday. Redfin has a 12-month low of $5.10 and a 12-month high of $15.29. The stock has a market capitalization of $985.64 million, a price-to-earnings ratio of -6.21 and a beta of 2.66. The business’s 50 day moving average is $8.27 and its two-hundred day moving average is $9.41.

Insider Transactions at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the company’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 completion of the sale, the insider now directly owns 29,978 shares in the company, valued at $252,714.54. This represents a 21.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 directly owns 73,466 shares in the company, valued at $620,053.04. This represents a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

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