Redfin Co. (NASDAQ:RDFN - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $7.95, but opened at $8.13. Redfin shares last traded at $8.56, with a volume of 3,096,900 shares.
Analyst Upgrades and Downgrades
Several research analysts recently commented on RDFN shares. Jefferies Financial Group increased their target price on shares of Redfin from $7.50 to $11.50 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. DA Davidson restated a "neutral" rating and set a $7.25 price objective on shares of Redfin in a research note on Tuesday, November 19th. Citigroup dropped their target price 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. raised their price target on Redfin from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Finally, Wedbush upped their price objective on Redfin from $8.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Redfin currently has an average rating of "Hold" and a consensus price target of $9.16.
View Our Latest Stock Analysis on Redfin
Redfin Stock Performance
The firm's 50 day moving average is $8.21 and its 200 day moving average is $9.41.
Insider Buying and Selling at Redfin
In related 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 transaction, the insider now directly owns 29,978 shares of the company's stock, valued at approximately $252,714.54. This represents a 21.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christian John Taubman sold 16,333 shares of Redfin stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total value of $137,850.52. Following the completion of the sale, the insider now directly owns 73,466 shares of the company's stock, valued at approximately $620,053.04. The trade was a 18.19 % decrease in their position. 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 institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in Redfin by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company's stock valued at $12,508,000 after acquiring an additional 92,023 shares during the period. Tidal Investments LLC purchased a new position in shares of Redfin during the third quarter valued at approximately $10,650,000. Ballentine Partners LLC purchased a new stake in Redfin in the fourth quarter worth approximately $81,000. Geode Capital Management LLC grew its position in Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company's stock worth $37,884,000 after purchasing an additional 66,018 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Redfin by 476.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company's stock valued at $10,018,000 after buying an additional 660,872 shares during the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.
About Redfin
(
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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