Analysts Set Redfin Co. (NASDAQ:RDFN) PT at $9.14

Shares of Redfin Co. (NASDAQ:RDFN) have earned an average rating of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.63.

Several equities research analysts have weighed in on RDFN shares. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Zelman & Associates raised Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and raised their price target for the company from $6.00 to $6.50 in a report on Monday, November 18th. Piper Sandler lowered their price target on Redfin from $7.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, March 6th. Finally, Citigroup lowered their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 16,333 shares of Redfin stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $8.44, for a total value of $137,850.52. Following the transaction, the insider now owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redfin

A number of institutional investors have recently bought and sold shares of RDFN. Creative Planning increased its stake in Redfin by 8.1% in the 3rd quarter. Creative Planning now owns 15,826 shares of the company’s stock worth $198,000 after purchasing an additional 1,181 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Redfin during the 3rd quarter valued at about $48,000. Financial Advocates Investment Management grew its stake in Redfin by 21.6% during the 3rd quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock valued at $148,000 after acquiring an additional 2,100 shares in the last quarter. Hollencrest Capital Management purchased a new position in Redfin during the 3rd quarter valued at about $25,000. Finally, Entropy Technologies LP grew its stake in Redfin by 119.1% during the 3rd quarter. Entropy Technologies LP now owns 46,357 shares of the company’s stock valued at $581,000 after acquiring an additional 25,200 shares in the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Price Performance

Shares of NASDAQ RDFN opened at $9.77 on Tuesday. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The business’s fifty day moving average price is $7.88 and its two-hundred day moving average price is $9.42. The firm has a market capitalization of $1.23 billion, a PE ratio of -7.63 and a beta of 2.90.

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.