Redfin Co. (NASDAQ:RDFN) Given Average Rating of "Hold" by Brokerages

Shares of Redfin Co. (NASDAQ:RDFN - Get Free Report) have earned a consensus rating of "Hold" from the thirteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $10.03.

A number of equities research analysts have weighed in on the stock. Susquehanna dropped their price target on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Gordon Haskett raised Redfin to a "hold" rating in a research report on Monday, March 10th. Citigroup lowered their price target on Redfin from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Zelman & Associates upgraded Redfin to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their target price on Redfin from $7.00 to $12.50 and gave the company a "neutral" rating in a report on Monday, March 24th.

Insider Activity

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

Institutional Investors Weigh In On Redfin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hennessy Advisors Inc. purchased a new stake in shares of Redfin in the 4th quarter valued at about $40,109,000. Two Sigma Advisers LP increased its position in Redfin by 124.9% during the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company's stock worth $26,938,000 after buying an additional 1,193,900 shares during the period. Tidal Investments LLC purchased a new stake in Redfin in the third quarter valued at approximately $10,650,000. BNP Paribas Financial Markets boosted its holdings in shares of Redfin by 476.6% in the third quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company's stock valued at $10,018,000 after acquiring an additional 660,872 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Redfin by 89.0% in the 4th quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company's stock valued at $4,855,000 after acquiring an additional 290,545 shares during the period. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Price Performance

Shares of NASDAQ:RDFN traded up $0.67 during midday trading on Friday, reaching $10.24. 9,886,073 shares of the company's stock were exchanged, compared to its average volume of 6,135,898. The firm's 50 day simple moving average is $8.83 and its two-hundred day simple moving average is $9.42. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -8.00 and a beta of 2.90.

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.