Redfin (NASDAQ:RDFN) Shares Down 7% – Time to Sell?

Redfin Co. (NASDAQ:RDFN) shares traded down 7% during trading on Friday . The stock traded as low as $8.14 and last traded at $8.04. 2,626,181 shares traded hands during trading, a decline of 45% from the average session volume of 4,749,941 shares. The stock had previously closed at $8.64.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RDFN shares. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price objective on shares of Redfin in a research report on Wednesday. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Wedbush upped their price objective on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Citigroup lowered their price objective on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, Susquehanna upped their price objective on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Redfin presently has a consensus rating of “Hold” and a consensus price target of $9.16.

Redfin Stock Performance

The stock has a market capitalization of $968.04 million, a price-to-earnings ratio of -6.10 and a beta of 2.66. The business has a 50-day moving average of $8.13 and a 200-day moving average of $9.45.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 16,333 shares of the company’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 directly owns 73,466 shares of the company’s stock, valued at $620,053.04. This represents a 18.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDFN. CWM LLC raised its stake in Redfin by 45.6% during the 3rd quarter. CWM LLC now owns 8,725 shares of the company’s stock valued at $109,000 after acquiring an additional 2,734 shares during the last quarter. Creative Planning raised its stake in shares of Redfin by 8.1% during 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 in the last quarter. Blue Trust Inc. raised its stake in shares of Redfin by 285.7% during 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 in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Redfin by 15.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 36,921 shares of the company’s stock worth $463,000 after buying an additional 4,947 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Redfin by 210.7% during the 3rd 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 in the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Company Profile

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.