Jefferies Financial Group Boosts Redfin (NASDAQ:RDFN) Price Target to $11.50

Redfin (NASDAQ:RDFN) had its price objective hoisted by Jefferies Financial Group from $7.50 to $11.50 in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities analysts also recently weighed in on the company. DA Davidson reissued a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, July 3rd. Susquehanna dropped their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Wedbush reissued a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Redfin presently has an average rating of “Hold” and an average target price of $8.20.

Redfin Stock Up 1.5 %

Shares of Redfin stock opened at $10.49 on Tuesday. Redfin has a 12-month low of $4.26 and a 12-month high of $15.29. The business’s 50 day moving average is $10.86 and its 200-day moving average is $8.08. The stock has a market cap of $1.28 billion, a P/E ratio of -8.97 and a beta of 2.68.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The firm had revenue of $295.20 million during the quarter, compared to analyst estimates of $291.59 million. During the same quarter in the prior year, the business earned ($0.25) EPS. The business’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts expect that Redfin will post -1.13 EPS for the current year.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the transaction, the insider now directly owns 71,720 shares of the company’s stock, valued at $663,410. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Redfin

Institutional investors and hedge funds have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC raised its position in Redfin by 98.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 89,244 shares of the company’s stock valued at $536,000 after purchasing an additional 44,377 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Redfin by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock valued at $127,623,000 after purchasing an additional 1,953,127 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Redfin during the 1st quarter worth $58,000. SG Americas Securities LLC bought a new stake in shares of Redfin during the 3rd quarter worth $616,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Redfin by 25.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock valued at $14,450,000 after buying an additional 445,486 shares in the last quarter. Institutional investors own 61.07% of the company’s stock.

About Redfin

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.