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

Redfin Co. (NASDAQ:RDFN) has earned a consensus rating of “Hold” from the twelve analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $9.16.

Several analysts recently weighed in on the company. Susquehanna upped their price target on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. DA Davidson reissued a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research note on Tuesday, November 19th. Citigroup dropped their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group cut shares of Redfin from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $6.00 to $6.50 in a report on Monday, November 18th.

Insider Transactions at Redfin

In other Redfin news, insider Christian John Taubman sold 16,333 shares of the company’s 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 completion of the sale, the insider now directly owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. This represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony Ray Kappus sold 8,417 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the completion of the sale, the insider now owns 29,978 shares of the company’s stock, valued at approximately $252,714.54. The trade was a 21.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning grew its position in shares of Redfin by 8.1% during the third quarter. Creative Planning now owns 15,826 shares of the company’s stock worth $198,000 after purchasing an additional 1,181 shares in the last quarter. Merit Financial Group LLC boosted its stake in Redfin by 10.7% in the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock worth $125,000 after purchasing an additional 1,529 shares during the period. Arizona State Retirement System grew its holdings in Redfin by 5.4% during the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock valued at $201,000 after buying an additional 1,710 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of Redfin during the third quarter valued at approximately $25,000. Finally, Financial Advocates Investment Management lifted its holdings in shares of Redfin by 21.6% in the third quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock worth $148,000 after buying an additional 2,100 shares in the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Stock Down 0.6 %

Shares of Redfin stock opened at $7.69 on Monday. The company has a market cap of $953.41 million, a PE ratio of -6.01 and a beta of 2.64. The business has a 50 day moving average of $8.59 and a 200 day moving average of $9.32. Redfin has a 52 week low of $5.10 and a 52 week high of $15.29.

Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The firm had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same period in the previous year, the firm posted ($0.17) EPS. On average, research analysts anticipate that Redfin will post -1.25 earnings per share for the current 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.