Redfin (NASDAQ:RDFN) Upgraded to Hold at Gordon Haskett

Gordon Haskett upgraded shares of Redfin (NASDAQ:RDFN) to a hold rating in a report published on Monday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Susquehanna cut their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Zelman & Associates raised shares of Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. DA Davidson reissued a “neutral” rating and set a $7.25 price objective on shares of Redfin in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, B. Riley downgraded shares of Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.48.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $10.38 on Monday. The company’s fifty day moving average price is $7.97 and its 200 day moving average price is $9.42. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29. The firm has a market capitalization of $1.31 billion, a P/E ratio of -8.11 and a beta of 2.90.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,333 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the completion of the sale, the insider now owns 73,466 shares in the company, valued at $620,053.04. This trade represents a 18.19 % 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 Trading of Redfin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Redfin by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after purchasing an additional 92,023 shares during the period. Tidal Investments LLC acquired a new stake in shares of Redfin in the third quarter valued at about $10,650,000. Ballentine Partners LLC acquired a new stake in shares of Redfin in the fourth quarter valued at about $81,000. Geode Capital Management LLC lifted its stake in shares of Redfin by 2.2% in the third 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 period. Finally, BNP Paribas Financial Markets raised its position in 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 acquiring an additional 660,872 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

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.