Susquehanna Cuts Redfin (NASDAQ:RDFN) Price Target to $7.00

Redfin (NASDAQ:RDFN) had its target price decreased by Susquehanna from $10.00 to $7.00 in a research report released on Monday,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other equities analysts also recently weighed in on RDFN. The Goldman Sachs Group downgraded Redfin from a “neutral” rating to a “sell” rating and raised their price target for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Citigroup dropped their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. DA Davidson reissued a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Wedbush raised their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.14.

Redfin Price Performance

NASDAQ RDFN opened at $6.40 on Monday. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The company has a market capitalization of $808.89 million, a P/E ratio of -5.00 and a beta of 2.90. The business has a 50 day moving average price of $7.98 and a 200 day moving average price of $9.48.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,333 shares of Redfin stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total value of $137,850.52. Following the transaction, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDFN. Creative Planning boosted its holdings in Redfin by 8.1% in the third quarter. Creative Planning now owns 15,826 shares of the company’s stock valued at $198,000 after acquiring an additional 1,181 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Redfin in the third quarter valued at about $48,000. Financial Advocates Investment Management raised its position in Redfin by 21.6% in the third quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock valued at $148,000 after purchasing an additional 2,100 shares during the period. Hollencrest Capital Management purchased a new position in Redfin in the third quarter valued at about $25,000. Finally, Entropy Technologies LP raised its position in Redfin by 119.1% in the third quarter. Entropy Technologies LP now owns 46,357 shares of the company’s stock valued at $581,000 after purchasing an additional 25,200 shares during the period. 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.