Redfin (NASDAQ:RDFN) Price Target Raised to $8.00 at JPMorgan Chase & Co.

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

Several other analysts also recently weighed in on the company. Wedbush increased their target price on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Susquehanna upped their target price on shares of Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday. Jefferies Financial Group raised their price target on shares of Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, B. Riley boosted their price objective on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.23.

Redfin Stock Down 5.1 %

NASDAQ:RDFN opened at $9.35 on Tuesday. The company’s 50 day moving average is $11.17 and its 200-day moving average is $8.60. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -7.30 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last announced its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter in the previous year, the business earned ($0.17) EPS. Research analysts predict that Redfin will post -1.15 EPS for the current fiscal year.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction that occurred 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 approximately $663,410. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

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