Redfin Co. (NASDAQ:RDFN) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Redfin Co. (NASDAQ:RDFN - Get Free Report) have earned an average rating of "Hold" from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $9.16.

Several equities research analysts recently commented on the company. Jefferies Financial Group boosted their price target on Redfin from $7.50 to $11.50 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Wedbush upped their target price on Redfin from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Citigroup lowered their price target on Redfin from $10.50 to $9.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Redfin from $7.00 to $8.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Finally, Susquehanna raised their target price on shares of Redfin from $7.00 to $10.00 and gave the company a "neutral" rating in a research note on Monday, November 11th.

Insider Activity

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

Institutional Investors Weigh In On Redfin

Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Redfin by 15.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 446,172 shares of the company's stock valued at $2,681,000 after buying an additional 59,689 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Redfin by 12.2% during the second quarter. Rhumbline Advisers now owns 177,096 shares of the company's stock valued at $1,064,000 after acquiring an additional 19,229 shares during the period. Arizona State Retirement System boosted its stake in shares of Redfin by 5.4% in the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company's stock valued at $201,000 after purchasing an additional 1,710 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Redfin in the 2nd quarter worth about $108,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Redfin during the 2nd quarter worth about $162,000. 61.07% of the stock is currently owned by institutional investors.

Redfin Price Performance

RDFN traded down $0.08 on Monday, reaching $7.26. 3,470,706 shares of the company traded hands, compared to its average volume of 4,535,483. The company has a market cap of $900.09 million, a price-to-earnings ratio of -5.67 and a beta of 2.64. The stock's 50 day moving average price is $8.83 and its 200-day moving average price is $9.27. Redfin has a 52-week low of $5.10 and a 52-week high of $15.29.

Redfin (NASDAQ:RDFN - Get Free Report) last posted 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 firm had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. As a group, equities research analysts forecast that Redfin will post -1.25 earnings per share for the current fiscal 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.