Redfin (NASDAQ:RDFN) Given New $12.50 Price Target at JPMorgan Chase & Co.

Redfin (NASDAQ:RDFN) had its price target raised by JPMorgan Chase & Co. from $7.00 to $12.50 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

RDFN has been the subject of several other research reports. Citigroup reduced their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. B. Riley downgraded Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. Susquehanna dropped their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Finally, Gordon Haskett upgraded shares of Redfin to a “hold” rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Redfin has a consensus rating of “Hold” and a consensus price target of $10.03.

Redfin Price Performance

Shares of RDFN stock opened at $10.37 on Monday. The business’s 50 day simple moving average is $8.62 and its 200 day simple moving average is $9.48. Redfin has a one year low of $5.10 and a one year high of $15.29. The stock has a market capitalization of $1.31 billion, a PE ratio of -8.10 and a beta of 2.90.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of the business’s stock in a transaction that occurred on 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 owns 74,616 shares of the company’s stock, valued at approximately $831,968.40. The trade was a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Redfin by 14.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 258,481 shares of the company’s stock worth $2,034,000 after purchasing an additional 33,327 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Redfin by 17.4% during the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock worth $19,865,000 after acquiring an additional 374,200 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Redfin in the fourth quarter worth $27,000. Point72 Asset Management L.P. bought a new position in Redfin in the fourth quarter valued at $1,018,000. Finally, ProShare Advisors LLC raised its position in Redfin by 51.9% during the fourth quarter. ProShare Advisors LLC now owns 33,663 shares of the company’s stock valued at $265,000 after purchasing an additional 11,503 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.