Redfin (NASDAQ:RDFN) Rating Increased to Strong-Buy at Zelman & Associates

Zelman & Associates upgraded shares of Redfin (NASDAQ:RDFN) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

RDFN has been the topic of several other research reports. The Goldman Sachs Group cut shares of Redfin from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $6.00 to $6.50 in a research note on Monday, November 18th. Susquehanna dropped their price target on shares of Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday. Citigroup dropped their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. DA Davidson restated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday. Two investment 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. Based on data from MarketBeat.com, Redfin has an average rating of “Hold” and a consensus target price of $8.63.

Redfin Price Performance

Shares of Redfin stock opened at $5.86 on Wednesday. The company’s fifty day simple moving average is $7.94 and its 200-day simple moving average is $9.46. The stock has a market capitalization of $740.64 million, a PE ratio of -4.58 and a beta of 2.90. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 16,333 shares of the business’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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

A number of large investors have recently made changes to their positions in RDFN. Creative Planning increased its holdings in shares of Redfin by 8.1% in 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 during the last quarter. Hollencrest Capital Management bought a new stake in shares of Redfin in the 3rd quarter worth about $25,000. Entropy Technologies LP increased its holdings in shares of Redfin by 119.1% in the 3rd quarter. Entropy Technologies LP now owns 46,357 shares of the company’s stock worth $581,000 after buying an additional 25,200 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Redfin by 53.2% in the 3rd quarter. GSA Capital Partners LLP now owns 139,203 shares of the company’s stock worth $1,744,000 after buying an additional 48,313 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Redfin in the 3rd quarter worth about $291,000. 61.07% of the stock is currently owned by institutional investors.

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.