JPMorgan Chase & Co. Issues Positive Forecast for Redfin (NASDAQ:RDFN) Stock Price

Redfin (NASDAQ:RDFN - Free Report) had its price target boosted by JPMorgan Chase & Co. from $7.00 to $12.50 in a research report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC restated a "hold" rating on shares of Redfin in a research report on Tuesday, March 11th. DA Davidson reissued a "neutral" rating and set a $7.25 price objective on shares of Redfin in a report on Wednesday, February 19th. Susquehanna lowered their target price 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. Piper Sandler raised shares of Redfin from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $4.00 to $12.50 in a research note on Tuesday, March 11th. Finally, B. Riley lowered shares of Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th. 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $10.03.

Redfin Stock Performance

NASDAQ RDFN traded down $0.01 on Monday, hitting $10.21. The stock had a trading volume of 9,447,871 shares, compared to its average volume of 6,080,207. The firm has a 50-day moving average of $8.72 and a 200-day moving average of $9.48. Redfin has a 52-week low of $5.10 and a 52-week high of $15.29. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -7.98 and a beta of 2.90.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the sale, the insider now owns 74,616 shares of the company's stock, valued at approximately $831,968.40. This represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Redfin in the fourth quarter valued at about $27,000. R Squared Ltd bought a new stake in shares of Redfin in the fourth quarter worth about $33,000. US Bancorp DE increased its holdings in Redfin by 48.3% during the 4th quarter. US Bancorp DE now owns 5,522 shares of the company's stock valued at $43,000 after purchasing an additional 1,799 shares during the period. Blue Trust Inc. raised its position in Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock valued at $46,000 after purchasing an additional 2,520 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Redfin in the 3rd quarter worth approximately $47,000. 61.07% of the stock is owned by hedge funds and other institutional investors.

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.