Redfin (NASDAQ:RDFN) Price Target Raised to $8.00

Redfin (NASDAQ:RDFN) had its price objective lifted by JPMorgan Chase & Co. from $7.00 to $8.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also issued reports on RDFN. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Wedbush lifted their price objective on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. B. Riley increased their target price on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group boosted their price target on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Susquehanna increased their price objective on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.23.

Redfin Trading Up 0.3 %

Shares of NASDAQ:RDFN opened at $8.74 on Tuesday. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29. The company’s fifty day moving average price is $11.14 and its 200 day moving average price is $8.60.

Redfin (NASDAQ:RDFN) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The firm had revenue of $278.02 million during the quarter, compared to analyst estimates of $280.21 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. On average, analysts anticipate that Redfin will post -1.21 EPS for the current fiscal year.

Insider Activity

In related news, insider Christian John Taubman sold 3,632 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the transaction, the insider now directly owns 71,720 shares of the company’s stock, valued at $663,410. This trade represents a 4.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RDFN. Centiva Capital LP raised its position in shares of Redfin by 318.9% during the 3rd quarter. Centiva Capital LP now owns 140,675 shares of the company’s stock worth $1,763,000 after purchasing an additional 107,097 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Redfin by 476.6% in the third quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock worth $10,018,000 after acquiring an additional 660,872 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of Redfin by 331.9% during the third quarter. Quantbot Technologies LP now owns 113,450 shares of the company’s stock valued at $1,422,000 after acquiring an additional 87,184 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Redfin by 169.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 40,773 shares of the company’s stock valued at $511,000 after acquiring an additional 25,652 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Redfin by 13.0% during the 3rd quarter. Cerity Partners LLC now owns 36,096 shares of the company’s stock worth $452,000 after purchasing an additional 4,157 shares in the last quarter. 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.