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

Redfin Co. (NASDAQ:RDFN) has earned an average rating of “Hold” from the fourteen analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $10.25.

A number of equities research analysts have commented on the company. B. Riley cut Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $12.50 and gave the company a “neutral” rating in a research report on Monday, March 24th. Citigroup dropped their target price on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Royal Bank of Canada upped their price target on shares of Redfin from $8.00 to $12.50 and gave the company a “sector perform” rating in a research note on Tuesday, April 15th. Finally, Zelman & Associates upgraded shares of Redfin to a “strong-buy” rating in a research note on Wednesday, March 5th.

Redfin Trading Up 6.4 %

Shares of RDFN opened at $8.76 on Wednesday. The firm has a market cap of $1.12 billion, a PE ratio of -6.84 and a beta of 2.56. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29. The stock has a fifty day moving average price of $9.03 and a 200-day moving average price of $9.02.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the completion of the transaction, the insider now directly owns 74,616 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Redfin

Several institutional investors have recently made changes to their positions in RDFN. Geode Capital Management LLC boosted its holdings in Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after buying an additional 66,018 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Redfin in the third quarter valued at about $10,650,000. Franklin Resources Inc. acquired a new position in shares of Redfin during the 3rd quarter worth about $161,000. Hennessy Advisors Inc. purchased a new stake in Redfin during the 4th quarter worth approximately $40,109,000. Finally, Merit Financial Group LLC lifted its holdings in Redfin by 10.7% in the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock valued at $125,000 after purchasing an additional 1,529 shares in the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.

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.