Redfin (NASDAQ:RDFN) Shares Up 6.8% - Should You Buy?

Redfin Co. (NASDAQ:RDFN - Get Free Report) traded up 6.8% on Monday . The company traded as high as $8.35 and last traded at $8.44. 1,217,522 shares traded hands during trading, a decline of 70% from the average session volume of 4,045,399 shares. The stock had previously closed at $7.90.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RDFN. JPMorgan Chase & Co. boosted 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. Susquehanna boosted their price target on Redfin from $7.00 to $10.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. DA Davidson reissued a "neutral" rating and set a $7.25 target price on shares of Redfin in a report on Tuesday, November 19th. Jefferies Financial Group boosted 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. Finally, The Goldman Sachs Group cut shares of Redfin from a "neutral" rating to a "sell" rating and boosted their price objective for the stock from $6.00 to $6.50 in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $9.16.

Redfin Trading Up 5.4 %

The firm has a 50-day moving average of $8.48 and a 200 day moving average of $9.39. The company has a market cap of $1.03 billion, a P/E ratio of -6.51 and a beta of 2.64.

Redfin (NASDAQ:RDFN - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.08). The business had revenue of $278.02 million during the quarter, compared to analysts' expectations of $280.21 million. During the same quarter last year, the firm earned ($0.17) EPS. On average, equities analysts predict that Redfin Co. will post -1.25 EPS for the current year.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 16,333 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the transaction, the insider now directly owns 73,466 shares of the company's stock, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony Ray Kappus sold 8,417 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $8.43, for a total transaction of $70,955.31. Following the completion of the transaction, the insider now directly owns 29,978 shares in the company, valued at approximately $252,714.54. The trade was a 21.92 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Creative Planning lifted its position in shares of Redfin by 8.1% during the 3rd quarter. Creative Planning now owns 15,826 shares of the company's stock worth $198,000 after buying an additional 1,181 shares in the last quarter. Merit Financial Group LLC lifted its holdings in Redfin by 10.7% during the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company's stock worth $125,000 after acquiring an additional 1,529 shares during the period. Hollencrest Capital Management bought a new stake in Redfin during the third quarter worth $25,000. Financial Advocates Investment Management raised its stake in shares of Redfin by 21.6% during the 3rd quarter. Financial Advocates Investment Management now owns 11,815 shares of the company's stock worth $148,000 after purchasing an additional 2,100 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Redfin by 285.7% during the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company's stock worth $41,000 after purchasing an additional 2,446 shares during the period. 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.