Redfin Co. (NASDAQ:RDFN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $10.25.

Several research analysts have recently commented on the company. Piper Sandler upgraded Redfin from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $4.00 to $12.50 in a research report on Tuesday, March 11th. Citigroup cut their target price on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Susquehanna lowered their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. Finally, Royal Bank of Canada upped their price objective on Redfin from $8.00 to $12.50 and gave the stock a “sector perform” rating in a research note on Tuesday, April 15th.

Insider Activity at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $11.15, for a total value of $180,730.35. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Redfin

Large investors have recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new stake in Redfin in the fourth quarter valued at approximately $40,109,000. Tidal Investments LLC acquired a new stake in shares of Redfin in the third quarter worth about $10,650,000. Two Sigma Advisers LP boosted its stake in shares of Redfin by 17.4% during the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock worth $19,865,000 after acquiring an additional 374,200 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Redfin by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company’s stock valued at $4,855,000 after acquiring an additional 290,545 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Redfin by 839.2% during the first quarter. GAMMA Investing LLC now owns 164,877 shares of the company’s stock worth $1,519,000 after purchasing an additional 147,322 shares during the period. Institutional investors own 61.07% of the company’s stock.

Redfin Stock Performance

Shares of RDFN stock opened at $9.42 on Wednesday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.36 and a beta of 2.56. Redfin has a one year low of $5.32 and a one year high of $15.29. The company’s 50-day simple moving average is $9.06 and its 200-day simple moving average is $8.97.

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.