Redfin Co. (NASDAQ:RDFN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have received a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.03.

RDFN has been the subject of several analyst reports. B. Riley downgraded shares of Redfin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Susquehanna lowered their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a report on Monday, March 24th. Finally, Gordon Haskett raised shares of Redfin to a “hold” rating in a research note on Monday, March 10th.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 16,209 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the transaction, the insider now directly owns 74,616 shares in the company, valued at $831,968.40. This trade represents a 17.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of Redfin

Institutional investors have recently made changes to their positions in the stock. Hennessy Advisors Inc. bought a new stake in Redfin during the 4th quarter valued at $40,109,000. Two Sigma Advisers LP increased its position 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 acquiring an additional 1,193,900 shares during the period. Tidal Investments LLC bought a new position in shares of Redfin during the third quarter valued at about $10,650,000. BNP Paribas Financial Markets boosted its holdings in shares of Redfin by 476.6% during the third quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock worth $10,018,000 after purchasing an additional 660,872 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Redfin by 89.0% in the fourth quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company’s stock worth $4,855,000 after purchasing an additional 290,545 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Trading Down 0.8 %

Shares of Redfin stock opened at $10.20 on Friday. The company’s 50-day moving average price is $8.92 and its 200-day moving average price is $9.40. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -7.97 and a beta of 2.56. Redfin has a 12-month low of $5.10 and a 12-month high of $15.29.

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.