Redfin (NASDAQ:RDFN) Stock Price Down 2.2% – What’s Next?

Redfin Co. (NASDAQ:RDFN)’s share price traded down 2.2% during mid-day trading on Monday . The company traded as low as $10.84 and last traded at $10.80. 426,254 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 6,001,618 shares. The stock had previously closed at $11.04.

Analyst Ratings Changes

A number of equities analysts recently commented on RDFN shares. Gordon Haskett upgraded shares of Redfin to a “hold” rating in a research report on Monday, March 10th. Zelman & Associates raised Redfin to a “strong-buy” rating in a research note on Wednesday, March 5th. B. Riley cut shares of Redfin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Susquehanna lowered their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.03.

Redfin Stock Performance

The company has a 50-day simple moving average of $8.57 and a two-hundred day simple moving average of $9.47. The firm has a market capitalization of $1.32 billion, a P/E ratio of -8.19 and a beta of 2.90.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the transaction, the insider now directly owns 74,616 shares of the company’s stock, valued at $831,968.40. This trade represents a 17.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redfin

Several large investors have recently made changes to their positions in RDFN. Cerity Partners LLC grew its stake in shares of Redfin by 3.3% in the 4th quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock worth $293,000 after buying an additional 1,189 shares during the last quarter. Merit Financial Group LLC boosted its holdings in Redfin by 10.7% in the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock worth $125,000 after acquiring an additional 1,529 shares in the last quarter. US Bancorp DE grew its stake in shares of Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after acquiring an additional 1,799 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after acquiring an additional 2,520 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Redfin by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,377 shares of the company’s stock worth $530,000 after purchasing an additional 3,091 shares during 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.