Redfin Co. (NASDAQ:RDFN) Receives Consensus Rating of "Hold" from Brokerages

Redfin Co. (NASDAQ:RDFN - Get Free Report) has been given an average recommendation of "Hold" by the twelve brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $9.16.

RDFN has been the subject of several analyst reports. Wedbush upped their target price on Redfin from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. DA Davidson reaffirmed a "neutral" rating and set a $7.25 price objective on shares of Redfin in a research note on Tuesday, November 19th. Jefferies Financial Group raised their target price on shares of Redfin from $7.50 to $11.50 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Citigroup lowered their target price on shares of Redfin from $10.50 to $9.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. Finally, Susquehanna increased their price target on shares of Redfin from $7.00 to $10.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th.

Redfin Stock Up 0.4 %

Shares of RDFN traded up $0.03 on Friday, hitting $8.33. 3,715,676 shares of the stock traded hands, compared to its average volume of 4,331,411. Redfin has a 1 year low of $5.10 and a 1 year high of $15.29. The stock's 50 day moving average is $8.31 and its two-hundred day moving average is $9.41. The firm has a market capitalization of $1.03 billion, a P/E ratio of -6.51 and a beta of 2.66.

Redfin (NASDAQ:RDFN - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.08). The business had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Research analysts forecast that Redfin will post -1.25 EPS for the current year.

Insider Buying and Selling

In other Redfin 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 value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian John Taubman sold 16,333 shares of Redfin stock in a transaction that occurred 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 sale, the insider now owns 73,466 shares in the company, valued at $620,053.04. This represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Redfin

A number of institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in shares of Redfin during the third quarter worth about $25,000. Blue Trust Inc. increased its holdings in Redfin by 285.7% during the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company's stock worth $41,000 after purchasing an additional 2,446 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Redfin in the 3rd quarter valued at approximately $47,000. DekaBank Deutsche Girozentrale acquired a new position in Redfin during the 3rd quarter worth $48,000. Finally, R Squared Ltd acquired a new stake in shares of Redfin in the 4th quarter valued at about $33,000. Institutional investors and hedge funds 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.