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

Shares of Redfin Co. (NASDAQ:RDFN) have been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $8.98.

A number of analysts recently weighed in on RDFN shares. Jefferies Financial Group increased their price objective on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and increased their price target for the company from $6.00 to $6.50 in a research note on Monday, November 18th. B. Riley lifted their price objective on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Wedbush increased their target price on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Susquehanna raised their price target on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, November 11th.

Redfin Trading Up 12.3 %

NASDAQ:RDFN opened at $9.16 on Friday. The stock’s 50-day moving average is $10.78 and its 200-day moving average is $8.72. The stock has a market cap of $1.14 billion, a P/E ratio of -7.16 and a beta of 2.70. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29.

Redfin (NASDAQ:RDFN) last posted its 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 business had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, equities analysts forecast that Redfin will post -1.23 EPS for the current year.

Insider Activity at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 21.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Redfin

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after buying an additional 66,018 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Redfin in the 3rd quarter valued at about $174,000. XTX Topco Ltd acquired a new position in Redfin during the 3rd quarter valued at about $455,000. Zacks Investment Management bought a new stake in Redfin during the 3rd quarter worth approximately $2,108,000. Finally, Two Sigma Advisers LP raised its stake in shares of Redfin by 124.9% in the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after purchasing an additional 1,193,900 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors.

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.