Redfin Co. (NASDAQ:RDFN) Receives Average Recommendation of “Hold” from Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have been given a consensus rating of “Hold” by the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $10.45.

A number of analysts have weighed in on RDFN shares. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $4.00 to $12.50 in a research report on Tuesday, March 11th. B. Riley cut Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 10th. Gordon Haskett raised Redfin to a “hold” rating in a research report on Monday, March 10th. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. Finally, Susquehanna reduced their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of the business’s stock in a transaction dated 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 in the company, valued at $831,968.40. The trade was a 17.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in Redfin by 3.3% during the fourth quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock valued at $293,000 after acquiring an additional 1,189 shares during the period. Wealth Management Associates Inc. increased its stake in Redfin by 2.7% during the first quarter. Wealth Management Associates Inc. now owns 48,150 shares of the company’s stock valued at $443,000 after acquiring an additional 1,250 shares during the period. MetLife Investment Management LLC increased its stake in Redfin by 2.5% during the first quarter. MetLife Investment Management LLC now owns 70,344 shares of the company’s stock valued at $648,000 after acquiring an additional 1,743 shares during the period. US Bancorp DE increased its stake in Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after acquiring an additional 1,799 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of Redfin in the 1st quarter valued at approximately $28,000. 61.07% of the stock is currently owned by institutional investors.

Redfin Trading Down 0.2%

RDFN opened at $10.78 on Thursday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -8.42 and a beta of 2.38. Redfin has a 1 year low of $5.49 and a 1 year high of $15.29. The stock has a fifty day moving average price of $9.52 and a 200 day moving average price of $8.98.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to the consensus estimate of $220.89 million. During the same period in the prior year, the company earned ($0.57) earnings per share. Redfin’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Redfin will post -1.25 earnings per share for the current fiscal year.

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.