Redfin (NASDAQ:RDFN) Earns “Hold” Rating from Needham & Company LLC

Redfin (NASDAQ:RDFN)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports.

RDFN has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Susquehanna dropped their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Citigroup reduced their price objective 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, Zelman & Associates upgraded shares of Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Redfin has a consensus rating of “Hold” and a consensus target price of $8.63.

Redfin Trading Up 67.9 %

Shares of RDFN stock opened at $9.77 on Tuesday. Redfin has a 52 week low of $5.10 and a 52 week high of $15.29. The company has a market cap of $1.23 billion, a PE ratio of -7.63 and a beta of 2.90. The company’s fifty day simple moving average is $7.88 and its 200-day simple moving average is $9.42.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 16,333 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the transaction, the insider now owns 73,466 shares in the company, valued at $620,053.04. This trade represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hennessy Advisors Inc. bought a new position in Redfin in the 4th quarter worth approximately $40,109,000. Two Sigma Advisers LP lifted its stake in Redfin by 124.9% during the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after purchasing an additional 1,193,900 shares during the period. Tidal Investments LLC acquired a new stake in Redfin in the 3rd quarter valued at $10,650,000. BNP Paribas Financial Markets grew its holdings in shares of Redfin by 476.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock worth $10,018,000 after purchasing an additional 660,872 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Redfin by 89.0% during the fourth quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company’s stock worth $4,855,000 after buying an additional 290,545 shares during the last quarter. Institutional investors and hedge funds 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.