Shares of Redfin Co. (NASDAQ:RDFN - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $11.46, but opened at $10.21. Redfin shares last traded at $9.87, with a volume of 4,191,056 shares.
Analyst Ratings Changes
A number of research firms recently weighed in on RDFN. Susquehanna decreased their target price on Redfin from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on Redfin from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. B. Riley lifted their target price on Redfin from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Wedbush lifted their target price on Redfin from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Redfin in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.83.
Get Our Latest Research Report on Redfin
Redfin Stock Performance
The business's 50 day simple moving average is $11.16 and its 200 day simple moving average is $8.46.
Redfin (NASDAQ:RDFN - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.03. The firm had revenue of $295.20 million during the quarter, compared to the consensus estimate of $291.59 million. During the same quarter last year, the firm posted ($0.25) EPS. The business's revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Redfin Co. will post -1.13 EPS for the current year.
Insider Activity
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 completion of the transaction, the insider now owns 71,720 shares in the company, valued at approximately $663,410. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Redfin by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company's stock worth $127,623,000 after purchasing an additional 1,953,127 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Redfin by 25.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company's stock worth $14,450,000 after purchasing an additional 445,486 shares during the last quarter. Assenagon Asset Management S.A. raised its position 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 during the last quarter. Bank of New York Mellon Corp raised its position 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 worth $2,681,000 after purchasing an additional 59,689 shares during the last quarter. Finally, Swiss National Bank raised its position in Redfin by 1.3% in 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. Institutional investors own 61.07% of the company's stock.
Redfin Company Profile
(
Get Free Report)
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.
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