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

Redfin Co. (NASDAQ:RDFN) has earned an average recommendation of “Hold” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.16.

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Susquehanna lifted their price objective on shares of Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. DA Davidson restated a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research note on Tuesday, November 19th. B. Riley lifted their price target on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Wedbush increased their price objective on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th.

Insider Buying and Selling at Redfin

In related news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total transaction of $70,955.31. Following the completion of the transaction, the insider now owns 29,978 shares in the company, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christian John Taubman sold 16,333 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total transaction of $137,850.52. Following the sale, the insider now directly owns 73,466 shares of the company’s stock, valued at $620,053.04. The trade was a 18.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in Redfin during the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its holdings in shares of Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after buying an additional 2,446 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Redfin during the third quarter valued at $47,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Redfin in the 3rd quarter valued at $48,000. Finally, CWM LLC raised its stake in Redfin by 45.6% in the 3rd quarter. CWM LLC now owns 8,725 shares of the company’s stock worth $109,000 after acquiring an additional 2,734 shares during the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Trading Down 0.6 %

Shares of NASDAQ:RDFN opened at $7.69 on Monday. The company has a market capitalization of $953.41 million, a price-to-earnings ratio of -6.01 and a beta of 2.64. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29. The firm’s 50-day moving average is $8.59 and its 200 day moving average is $9.32.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The company had revenue of $278.02 million during the quarter, compared to analysts’ expectations of $280.21 million. During the same period in the prior year, the company earned ($0.17) earnings per share. As a group, equities analysts forecast that Redfin will post -1.25 EPS for the current fiscal year.

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.