Redfin (NASDAQ:RDFN) Price Target Raised to $8.00

Redfin (NASDAQ:RDFN) had its price target lifted by JPMorgan Chase & Co. from $7.00 to $8.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

RDFN has been the subject of a number of other research reports. Susquehanna increased their target price on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. B. Riley increased their target price on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Wedbush increased their price objective on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group increased their price objective on shares of Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.23.

Redfin Stock Down 3.9 %

RDFN opened at $8.37 on Tuesday. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29. The company has a fifty day simple moving average of $11.12 and a 200 day simple moving average of $8.62. The stock has a market cap of $1.04 billion, a P/E ratio of -6.54 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The company had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same period in the prior year, the company posted ($0.17) EPS. On average, equities research analysts expect that Redfin will post -1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the transaction, the insider now directly owns 71,720 shares of the company’s stock, valued at $663,410. This represents a 4.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management bought a new position in shares of Redfin during the third quarter worth approximately $25,000. Blue Trust Inc. increased its holdings in shares of Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after purchasing an additional 2,446 shares during the period. Quest Partners LLC bought a new position in shares of Redfin during the third quarter worth approximately $47,000. Mather Group LLC. increased its stake in Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after acquiring an additional 2,821 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Redfin in the third quarter valued at approximately $48,000. 61.07% of the stock is 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.