Shares of Redfin Co. (NASDAQ:RDFN – Get Free Report) fell 3.8% on Wednesday . The company traded as low as $8.39 and last traded at $8.35. 483,216 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,212,708 shares. The stock had previously closed at $8.68.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on RDFN shares. Susquehanna raised their price target on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Wedbush raised their target price on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price target on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Jefferies Financial Group raised 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. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.16.
View Our Latest Analysis on Redfin
Redfin Stock Performance
Redfin (NASDAQ:RDFN – Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $278.02 million during the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, analysts anticipate that Redfin Co. will post -1.25 EPS for the current year.
Insider Buying and Selling at Redfin
In related news, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total transaction of $137,850.52. Following the completion of the sale, the insider now owns 73,466 shares in the company, valued at $620,053.04. The trade was a 18.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony Ray Kappus sold 8,417 shares of the stock in a transaction on 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 $252,714.54. This trade represents a 21.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Redfin
Several large investors have recently modified their holdings of RDFN. Hennessy Advisors Inc. purchased a new stake in Redfin in the 4th quarter valued at $40,109,000. Two Sigma Advisers LP raised its holdings in shares of Redfin by 124.9% in the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock valued at $26,938,000 after buying an additional 1,193,900 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Redfin in the third quarter valued at about $10,650,000. Assenagon Asset Management S.A. boosted its stake in shares of Redfin by 210.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock worth $13,687,000 after buying an additional 740,759 shares during the period. Finally, BNP Paribas Financial Markets grew 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 buying an additional 660,872 shares during 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.
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