Analysts Set Redfin Co. (NASDAQ:RDFN) Price Target at $9.16

Redfin Co. (NASDAQ:RDFN) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.16.

Several analysts have issued reports on RDFN shares. B. Riley increased their target price on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group increased their price objective on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Susquehanna boosted their target price on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and raised their price target for the company from $6.00 to $6.50 in a report on Monday, November 18th. Finally, Wedbush boosted their price objective on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th.

Insiders Place Their Bets

In other news, insider Christian John Taubman sold 16,333 shares of Redfin stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $8.44, for a total value of $137,850.52. Following the transaction, the insider now owns 73,466 shares in the company, valued at approximately $620,053.04. The trade was 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 stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $8.43, for a total value of $70,955.31. Following the sale, the insider now owns 29,978 shares of the company’s stock, valued at $252,714.54. This represents a 21.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in Redfin during the 3rd quarter valued at about $25,000. Blue Trust Inc. grew its position in shares of Redfin by 285.7% in the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after buying an additional 2,446 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Redfin during the third quarter valued at approximately $47,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Redfin during the third quarter valued at approximately $48,000. Finally, Algert Global LLC bought a new position in shares of Redfin during the second quarter valued at approximately $72,000. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Stock Performance

Shares of NASDAQ RDFN opened at $7.69 on Monday. The stock has a fifty day moving average of $8.59 and a 200-day moving average of $9.27. The stock has a market cap of $953.41 million, a PE ratio of -6.01 and a beta of 2.64. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29.

Redfin (NASDAQ:RDFN) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share 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 analyst estimates of $280.21 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. On average, sell-side analysts predict that Redfin will post -1.25 EPS for the current year.

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.