Redfin (NASDAQ:RDFN) Given New $10.00 Price Target at Wedbush

Redfin (NASDAQ:RDFN - Free Report) had its price objective hoisted by Wedbush from $8.00 to $10.00 in a research note released on Friday,Benzinga reports. Wedbush currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price target on Redfin from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group raised their target price on shares of Redfin from $7.50 to $11.50 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Susquehanna cut their target price on shares of Redfin from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. B. Riley raised their price target on Redfin from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Redfin in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $8.83.

Redfin Trading Down 15.6 %

Redfin stock traded down $1.79 during mid-day trading on Friday, hitting $9.67. 17,944,114 shares of the company's stock were exchanged, compared to its average volume of 5,569,940. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The stock has a 50 day moving average of $11.16 and a two-hundred day moving average of $8.46.

Redfin (NASDAQ:RDFN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.03. The company had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. During the same period in the prior year, the company posted ($0.25) EPS. The business's revenue was up 7.2% on a year-over-year basis. On average, analysts forecast that Redfin will post -1.13 earnings per share for the current fiscal year.

Insider Activity

In other Redfin news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the sale, the insider now owns 71,720 shares in the company, valued at $663,410. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redfin

A number of hedge funds have recently modified their holdings of RDFN. Allspring Global Investments Holdings LLC lifted its holdings in shares of Redfin by 205.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company's stock valued at $31,000 after acquiring an additional 3,101 shares during the period. Swiss National Bank lifted its holdings in Redfin by 1.3% during the 1st quarter. Swiss National Bank now owns 227,500 shares of the company's stock valued at $1,513,000 after purchasing an additional 2,900 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Redfin in the first quarter valued at about $298,000. ProShare Advisors LLC grew its stake in Redfin by 9.8% during the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company's stock worth $132,000 after buying an additional 1,766 shares during the last quarter. Finally, Entropy Technologies LP increased its holdings in shares of Redfin by 41.4% during the first quarter. Entropy Technologies LP now owns 80,912 shares of the company's stock worth $538,000 after buying an additional 23,689 shares in the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.

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.