Analysts Set Redfin Co. (NASDAQ:RDFN) PT at $8.98

Redfin Co. (NASDAQ:RDFN) has been given an average recommendation of “Hold” by the twelve brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.98.

Several research firms have recently issued reports on RDFN. Susquehanna increased 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. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and increased their target price for the company from $6.00 to $6.50 in a research report on Monday, November 18th. Jefferies Financial Group boosted their price target on shares of Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. 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 report on Tuesday, November 12th. Finally, DA Davidson reissued a “neutral” rating and set a $7.25 target price on shares of Redfin in a report on Tuesday, November 19th.

Insider Activity

In related news, insider Anthony Ray Kappus sold 8,417 shares of Redfin 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 transaction, the insider now owns 29,978 shares of the company’s stock, valued at approximately $252,714.54. This trade represents a 21.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

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

Redfin Stock Up 5.6 %

Shares of NASDAQ:RDFN opened at $8.52 on Thursday. The company’s 50-day moving average price is $9.66 and its 200 day moving average price is $9.05. The company has a market cap of $1.06 billion, a PE ratio of -6.66 and a beta of 2.63. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share 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 quarter in the previous year, the business posted ($0.17) earnings per share. As a group, equities analysts anticipate that Redfin will post -1.25 EPS 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.