Redfin (NASDAQ:RDFN) Shares Gap Down – Should You Sell?

Shares of Redfin Co. (NASDAQ:RDFN) gapped down prior to trading on Tuesday . The stock had previously closed at $9.63, but opened at $9.18. Redfin shares last traded at $9.33, with a volume of 611,720 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RDFN shares. DA Davidson restated a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research note on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. B. Riley boosted their price objective on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group upped their price target on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Two research 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.98.

Redfin Trading Down 3.0 %

The stock has a market capitalization of $1.16 billion, a PE ratio of -7.52 and a beta of 2.70. The firm’s 50-day simple moving average is $10.70 and its two-hundred day simple moving average is $8.75.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The business had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter last year, the firm posted ($0.17) EPS. As a group, research analysts expect that Redfin Co. will post -1.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total transaction of $70,955.31. Following the transaction, the insider now directly owns 29,978 shares in the company, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Large investors have recently bought and sold shares of the business. Mather Group LLC. lifted its position in Redfin by 282.1% during the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after acquiring an additional 2,821 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of Redfin during the third quarter valued at about $25,000. Blue Trust Inc. raised its position in shares of Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after buying an additional 2,446 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Redfin during the third quarter valued at about $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Redfin during the third quarter valued at about $48,000. 61.07% of the stock is currently 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.