Redfin Co. (NASDAQ:RDFN) Receives $8.98 Average Target Price from Analysts

Redfin Co. (NASDAQ:RDFN) has received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $8.98.

A number of research firms recently weighed in on RDFN. Jefferies Financial Group lifted their target price on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Wedbush lifted 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. B. Riley upped their target price on Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and boosted their price target for the company from $6.00 to $6.50 in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th.

Insider Activity at Redfin

In related news, insider Anthony Ray Kappus sold 8,417 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total transaction of $70,955.31. Following the completion of the sale, the insider now directly owns 29,978 shares of the company’s stock, valued at $252,714.54. This trade represents a 21.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Redfin

A number of institutional investors and hedge funds have recently bought and sold shares of RDFN. Creative Planning raised its holdings in shares of Redfin by 8.1% in the third quarter. Creative Planning now owns 15,826 shares of the company’s stock valued at $198,000 after buying an additional 1,181 shares during the last quarter. Arizona State Retirement System increased its position in Redfin by 5.4% in the 2nd quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock valued at $201,000 after acquiring an additional 1,710 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Redfin by 9.8% in the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock worth $132,000 after acquiring an additional 1,766 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of Redfin during the third quarter worth approximately $25,000. Finally, Financial Advocates Investment Management lifted its position in shares of Redfin by 21.6% during the third quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock worth $148,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Price Performance

NASDAQ RDFN opened at $9.61 on Friday. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The stock’s 50-day moving average is $10.70 and its two-hundred day moving average is $8.75. The firm has a market cap of $1.19 billion, a P/E ratio of -7.38 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same period in the prior year, the company posted ($0.17) earnings per share. On average, equities analysts expect that Redfin will post -1.23 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.