Redfin Co. (NASDAQ:RDFN) Receives $8.98 Consensus Price Target from Analysts

Shares of Redfin Co. (NASDAQ:RDFN - Get Free Report) have been given an average rating of "Hold" by the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.98.

A number of research firms recently issued reports on RDFN. Jefferies Financial Group lifted their target price on Redfin from $7.50 to $11.50 and gave the company a "hold" rating in a report on Tuesday, October 22nd. DA Davidson reissued a "neutral" rating and issued a $7.25 price objective on shares of Redfin in a report on Tuesday, November 19th. B. Riley upped their price objective on shares of Redfin from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Wedbush upped their price objective on Redfin from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group lowered shares of Redfin from a "neutral" rating to a "sell" rating and upped their target price for the stock from $6.00 to $6.50 in a research report on Monday, November 18th.

Insiders Place Their Bets

In other news, insider Anthony Ray Kappus sold 8,417 shares of Redfin stock in a transaction dated Friday, November 22nd. The shares were 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 directly owns 29,978 shares of the company's stock, valued at approximately $252,714.54. The trade was a 21.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.40% of the stock is owned by company insiders.

Institutional Trading of Redfin

A number of institutional investors and hedge funds have recently made changes to their positions in RDFN. Geode Capital Management LLC boosted its holdings in shares of Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company's stock valued at $37,884,000 after acquiring an additional 66,018 shares during the period. Two Sigma Advisers LP increased its stake in shares of Redfin by 124.9% in the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company's stock valued at $26,938,000 after purchasing an additional 1,193,900 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Redfin by 210.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company's stock valued at $13,687,000 after buying an additional 740,759 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Redfin by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company's stock worth $12,508,000 after buying an additional 92,023 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Redfin in the 3rd quarter valued at approximately $10,650,000. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Redfin Price Performance

Shares of RDFN stock traded up $0.07 on Thursday, hitting $8.07. The stock had a trading volume of 6,105,098 shares, compared to its average volume of 5,504,423. The company's 50 day moving average price is $9.70 and its 200-day moving average price is $9.03. Redfin has a 1 year low of $5.10 and a 1 year high of $15.29. The firm has a market capitalization of $1.00 billion, a P/E ratio of -6.30 and a beta of 2.63.

Redfin (NASDAQ:RDFN - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 period last year, the firm posted ($0.17) earnings per share. On average, equities analysts forecast that Redfin will post -1.25 EPS for the current year.

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.