Analysts Set Redfin Co. (NASDAQ:RDFN) PT at $9.16

Redfin Co. (NASDAQ:RDFN) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $9.16.

RDFN has been the topic of a number of research analyst reports. Citigroup reduced their target price on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Susquehanna raised their price objective on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Wedbush upped their target price on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group increased their price target on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $6.00 to $6.50 in a report on Monday, November 18th.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $8.55 on Friday. The company’s fifty day moving average price is $8.23 and its 200-day moving average price is $9.40. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.68 and a beta of 2.66. Redfin has a one year low of $5.10 and a one year high of $15.29.

Insider Activity at Redfin

In related news, insider Anthony Ray Kappus sold 8,417 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total transaction of $70,955.31. Following the completion of the transaction, the insider now owns 29,978 shares in the company, valued at $252,714.54. This represents a 21.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christian John Taubman sold 16,333 shares of Redfin stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the sale, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redfin

A number of large investors have recently modified their holdings of RDFN. Charles Schwab Investment Management Inc. raised its stake in Redfin by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after buying an additional 92,023 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Redfin during the 3rd quarter worth approximately $10,650,000. Ballentine Partners LLC bought a new position in shares of Redfin in the 4th quarter worth approximately $81,000. SG Americas Securities LLC purchased a new position in shares of Redfin in the 3rd quarter valued at approximately $616,000. Finally, Geode Capital Management LLC boosted its position in shares of Redfin by 2.2% during 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 in the last quarter. Institutional investors own 61.07% of the company’s stock.

Redfin Company Profile

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.