Redfin (NASDAQ:RDFN) Stock Price Down 2.2% - What's Next?

Redfin Co. (NASDAQ:RDFN - Get Free Report)'s stock price fell 2.2% during mid-day trading on Monday . The stock traded as low as $10.84 and last traded at $10.80. 426,254 shares were traded during trading, a decline of 93% from the average session volume of 6,001,618 shares. The stock had previously closed at $11.04.

Analysts Set New Price Targets

RDFN has been the topic of a number of recent analyst reports. Susquehanna reduced their price target on Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Gordon Haskett upgraded Redfin to a "hold" rating in a research note on Monday, March 10th. B. Riley lowered Redfin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 10th. Piper Sandler upgraded Redfin from an "underweight" rating to a "neutral" rating and raised their target price for the company from $4.00 to $12.50 in a research note on Tuesday, March 11th. Finally, Needham & Company LLC restated a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Redfin has an average rating of "Hold" and an average price target of $10.03.

Redfin Trading Down 2.8 %

The firm has a market capitalization of $1.32 billion, a P/E ratio of -8.19 and a beta of 2.90. The firm has a 50-day moving average of $8.57 and a two-hundred day moving average of $9.47.

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Insider Buying and Selling

In other news, insider Christian John Taubman sold 16,209 shares of the 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 of the company's stock, valued at approximately $831,968.40. This represents a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in shares of Redfin in the third quarter worth $47,000. Intech Investment Management LLC purchased a new stake in Redfin in the 3rd quarter worth $461,000. Charles Schwab Investment Management Inc. increased its position in Redfin by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company's stock worth $12,508,000 after purchasing an additional 92,023 shares during the last quarter. Cerity Partners LLC lifted its position in Redfin by 13.0% in the third quarter. Cerity Partners LLC now owns 36,096 shares of the company's stock worth $452,000 after buying an additional 4,157 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in Redfin by 169.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 40,773 shares of the company's stock worth $511,000 after purchasing an additional 25,652 shares during the period. Hedge funds and other institutional investors own 61.07% of the company's stock.

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.