JPMorgan Chase & Co. Lowers Redfin (NASDAQ:RDFN) Price Target to $7.00

Redfin (NASDAQ:RDFN) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $8.00 to $7.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 10.24% from the stock’s current price.

RDFN has been the subject of a number of other reports. Wedbush lifted their price target on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and raised their target price for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Susquehanna boosted their price target on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Citigroup decreased their price objective on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.14.

Redfin Trading Up 4.3 %

Redfin stock opened at $6.35 on Monday. The stock has a 50-day moving average price of $8.02 and a 200 day moving average price of $9.49. Redfin has a 52 week low of $5.10 and a 52 week high of $15.29. The stock has a market cap of $787.27 million, a PE ratio of -4.96 and a beta of 2.66.

Insider Buying and Selling

In other news, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction dated 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 approximately $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 can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in shares of Redfin in the 3rd quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Redfin in the 4th quarter valued at $27,000. R Squared Ltd purchased a new position in Redfin in the fourth quarter valued at about $33,000. US Bancorp DE lifted its stake in shares of Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Redfin by 76.3% in the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after buying an additional 2,520 shares during the period. 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.