Redfin (NASDAQ:RDFN - Get Free Report) was upgraded by stock analysts at Zelman & Associates to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.
RDFN has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price objective on shares of Redfin from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. 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. Susquehanna dropped their price objective on shares of Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Wedbush raised their target price on shares of Redfin from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Finally, Citigroup lowered their target price on shares of Redfin from $10.50 to $9.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.63.
Get Our Latest Research Report on RDFN
Redfin Stock Down 0.7 %
Shares of NASDAQ RDFN traded down $0.04 during midday trading on Wednesday, reaching $5.82. 8,531,208 shares of the company's stock traded hands, compared to its average volume of 5,542,721. The stock's 50 day simple moving average is $7.84 and its 200-day simple moving average is $9.41. Redfin has a one year low of $5.10 and a one year high of $15.29. The company has a market cap of $735.58 million, a price-to-earnings ratio of -4.55 and a beta of 2.90.
Insiders Place Their Bets
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 completion of the transaction, the insider now 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 SEC, which is accessible through the SEC website. Corporate insiders own 4.40% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in RDFN. Hennessy Advisors Inc. purchased a new position in shares of Redfin during the fourth quarter worth $40,109,000. Two Sigma Advisers LP raised its holdings in shares of Redfin by 124.9% during the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company's stock worth $26,938,000 after purchasing an additional 1,193,900 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Redfin during the third quarter worth $10,650,000. BNP Paribas Financial Markets raised its holdings in shares of Redfin by 476.6% during the third quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company's stock worth $10,018,000 after purchasing an additional 660,872 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Redfin by 89.0% during the fourth quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company's stock worth $4,855,000 after purchasing an additional 290,545 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company's stock.
About Redfin
(
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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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