Redfin (NASDAQ:RDFN) Stock Price Up 3.8% - Should You Buy?

Redfin Co. (NASDAQ:RDFN - Get Free Report) shot up 3.8% during trading on Tuesday . The stock traded as high as $9.39 and last traded at $9.56. 1,647,493 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 6,096,181 shares. The stock had previously closed at $9.21.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RDFN shares. DA Davidson reiterated a "neutral" rating and set a $7.25 price objective on shares of Redfin in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on shares of Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Susquehanna decreased their price objective on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Piper Sandler raised shares of Redfin from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $4.00 to $12.50 in a report on Tuesday, March 11th. Finally, Gordon Haskett raised Redfin to a "hold" rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Redfin has a consensus rating of "Hold" and an average target price of $10.03.

Redfin Stock Down 0.8 %

The company has a fifty day moving average price of $8.92 and a 200-day moving average price of $9.37. The stock has a market capitalization of $1.29 billion, a P/E ratio of -7.97 and a beta of 2.56.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $11.15, for a total value of $180,730.35. Following the sale, the insider now directly owns 74,616 shares in the company, valued at $831,968.40. The trade was a 17.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Redfin

Large investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC lifted its stake in shares of Redfin by 3.3% in the 4th quarter. Cerity Partners LLC now owns 37,285 shares of the company's stock valued at $293,000 after purchasing an additional 1,189 shares during the last quarter. Merit Financial Group LLC lifted its position in Redfin by 10.7% in the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company's stock worth $125,000 after buying an additional 1,529 shares during the last quarter. US Bancorp DE boosted its stake in Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company's stock worth $43,000 after buying an additional 1,799 shares during the period. Blue Trust Inc. increased its position in Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock valued at $46,000 after acquiring an additional 2,520 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Redfin by 4.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,377 shares of the company's stock valued at $530,000 after acquiring an additional 3,091 shares during the period. 61.07% of the stock is owned by institutional investors.

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.