Redfin Co. (NASDAQ:RDFN) Receives $8.20 Average Target Price from Analysts

Shares of Redfin Co. (NASDAQ:RDFN - Get Free Report) have received a consensus rating of "Hold" from the twelve analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.20.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Redfin from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. B. Riley lifted their price target on shares of Redfin from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Susquehanna lowered their price target on Redfin from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Jefferies Financial Group raised their price objective on Redfin from $7.50 to $11.50 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Finally, DA Davidson reaffirmed a "neutral" rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, July 3rd.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the transaction, the insider now owns 71,720 shares of the company's stock, valued at $663,410. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is owned by insiders.

Institutional Trading of Redfin

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Redfin by 11.3% in the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company's stock valued at $127,623,000 after buying an additional 1,953,127 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Redfin by 25.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company's stock valued at $14,450,000 after purchasing an additional 445,486 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Redfin by 210.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company's stock worth $13,687,000 after purchasing an additional 740,759 shares in the last quarter. Bank of New York Mellon Corp grew its position in Redfin by 15.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 446,172 shares of the company's stock worth $2,681,000 after purchasing an additional 59,689 shares during the last quarter. Finally, Swiss National Bank grew its position in Redfin by 1.3% during the 1st quarter. Swiss National Bank now owns 227,500 shares of the company's stock worth $1,513,000 after purchasing an additional 2,900 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company's stock.

Redfin Price Performance

Shares of NASDAQ:RDFN traded up $0.61 during trading hours on Wednesday, hitting $10.32. 5,271,387 shares of the company's stock traded hands, compared to its average volume of 5,492,569. The business has a fifty day moving average price of $11.14 and a 200-day moving average price of $8.26. Redfin has a 1 year low of $4.26 and a 1 year high of $15.29. The firm has a market capitalization of $1.26 billion, a P/E ratio of -8.67 and a beta of 2.68.

Redfin (NASDAQ:RDFN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.03. The business had revenue of $295.20 million during the quarter, compared to the consensus estimate of $291.59 million. During the same period last year, the company earned ($0.25) EPS. The business's revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that Redfin will post -1.13 earnings per share for the current year.

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.