Redfin Co. (NASDAQ:RDFN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have received a consensus rating of “Hold” from the twelve research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $9.16.

A number of brokerages have weighed in on RDFN. Susquehanna upped their price objective on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Wedbush upped their price target on 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 boosted their target price on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. DA Davidson restated a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Tuesday, November 19th. Finally, B. Riley lifted their price target on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, September 30th.

Redfin Price Performance

Shares of RDFN opened at $7.69 on Monday. The company has a 50-day simple moving average of $8.59 and a two-hundred day simple moving average of $9.27. The firm has a market capitalization of $953.41 million, a PE ratio of -6.01 and a beta of 2.64. Redfin has a one year low of $5.10 and a one year high of $15.29.

Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 7th. The company reported ($0.28) EPS 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 period in the previous year, the firm posted ($0.17) EPS. Analysts expect that Redfin will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 16,333 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the sale, the insider now owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. This represents a 18.19 % 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. Also, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were 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 $252,714.54. The trade was a 21.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Several institutional investors have recently added to or reduced their stakes in RDFN. Hennessy Advisors Inc. acquired a new position in Redfin during the 4th quarter valued at approximately $40,109,000. Geode Capital Management LLC grew its stake in Redfin by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after purchasing an additional 66,018 shares during the last quarter. Two Sigma Advisers LP increased its holdings 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 valued at $26,938,000 after purchasing an additional 1,193,900 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Redfin by 210.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock worth $13,687,000 after purchasing an additional 740,759 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after purchasing an additional 92,023 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

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.