Redfin Co. (NASDAQ:RDFN - Get Free Report) shares were up 6.8% on Monday . The stock traded as high as $8.35 and last traded at $8.44. Approximately 1,217,522 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 4,045,399 shares. The stock had previously closed at $7.90.
Analyst Upgrades and Downgrades
Several brokerages recently commented on RDFN. Wedbush lifted their target price on shares of Redfin from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Susquehanna boosted their price objective on Redfin from $7.00 to $10.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. The Goldman Sachs Group lowered Redfin from a "neutral" rating to a "sell" rating and increased their target price for the stock from $6.00 to $6.50 in a research note on Monday, November 18th. DA Davidson restated a "neutral" rating and issued a $7.25 price target on shares of Redfin in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. increased their price objective on Redfin from $7.00 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $9.16.
Check Out Our Latest Stock Analysis on Redfin
Redfin Stock Performance
The firm's fifty day simple moving average is $8.48 and its 200 day simple moving average is $9.39. The stock has a market capitalization of $991.84 million, a P/E ratio of -6.25 and a beta of 2.64.
Redfin (NASDAQ:RDFN - Get Free Report) last announced 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 business had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same period in the prior year, the company posted ($0.17) EPS. Analysts anticipate that Redfin Co. will post -1.25 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Christian John Taubman sold 16,333 shares of the company's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the transaction, the insider now directly owns 73,466 shares in the company, valued at approximately $620,053.04. This represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony Ray Kappus sold 8,417 shares of the stock in a transaction on 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 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 corporate insiders.
Hedge Funds Weigh In On Redfin
Institutional investors and hedge funds have recently bought and sold shares of the company. CAP Partners LLC grew its holdings in Redfin by 8.8% during the 4th quarter. CAP Partners LLC now owns 44,725 shares of the company's stock worth $352,000 after acquiring an additional 3,621 shares during the last quarter. R Squared Ltd bought a new stake in shares of Redfin in the fourth quarter worth $33,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Redfin in the fourth quarter worth $113,000. Perigon Wealth Management LLC increased its holdings in Redfin by 35.6% in the fourth quarter. Perigon Wealth Management LLC now owns 102,836 shares of the company's stock valued at $796,000 after purchasing an additional 26,972 shares during the period. Finally, Blue Trust Inc. raised its position in Redfin by 76.3% during the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company's stock worth $46,000 after purchasing an additional 2,520 shares during the last quarter. Institutional investors and hedge funds 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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