Redfin’s (RDFN) “Neutral” Rating Reiterated at DA Davidson

Redfin (NASDAQ:RDFN)‘s stock had its “neutral” rating reaffirmed by stock analysts at DA Davidson in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $7.25 target price on the stock. DA Davidson’s price target would indicate a potential downside of 10.71% from the stock’s current price.

RDFN has been the subject of several other reports. JPMorgan Chase & Co. boosted their target price on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Susquehanna boosted their price objective on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. B. Riley boosted their price target on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $6.00 to $6.50 in a report on Monday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.98.

Redfin Stock Up 1.5 %

Shares of Redfin stock traded up $0.12 during trading hours on Tuesday, reaching $8.12. 4,919,595 shares of the company’s stock were exchanged, compared to its average volume of 5,574,223. The business has a fifty day moving average of $11.07 and a two-hundred day moving average of $8.68. Redfin has a 1 year low of $5.10 and a 1 year high of $15.29. The company has a market capitalization of $1.01 billion, a P/E ratio of -6.34 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last issued 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 business had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. As a group, research analysts predict that Redfin will post -1.23 EPS for the current year.

Insider Buying and Selling at Redfin

In related news, insider Christian John Taubman sold 3,632 shares of the firm’s 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 completion of the sale, the insider now owns 71,720 shares in the company, valued at $663,410. This trade represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Several institutional investors have recently made changes to their positions in RDFN. Creative Planning increased its position in shares of Redfin by 8.1% in the third quarter. Creative Planning now owns 15,826 shares of the company’s stock valued at $198,000 after buying an additional 1,181 shares in the last quarter. Arizona State Retirement System raised its stake in Redfin by 5.4% during the second quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock worth $201,000 after purchasing an additional 1,710 shares during the period. ProShare Advisors LLC grew its position in Redfin by 9.8% during the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock valued at $132,000 after acquiring an additional 1,766 shares during the period. Hollencrest Capital Management acquired a new stake in Redfin during the 3rd quarter worth approximately $25,000. Finally, Financial Advocates Investment Management lifted its holdings in shares of Redfin by 21.6% during the 3rd quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock valued at $148,000 after acquiring an additional 2,100 shares in the last quarter. 61.07% of the stock is currently owned by hedge funds and other 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.