Redfin Co. (NASDAQ:RDFN) Given Average Rating of “Hold” by Brokerages

Redfin Co. (NASDAQ:RDFN) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $10.03.

Several equities analysts recently issued reports on RDFN shares. Citigroup reduced their price objective on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Piper Sandler upgraded shares of Redfin from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $4.00 to $12.50 in a research report on Tuesday, March 11th. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $12.50 and gave the company a “neutral” rating in a research note on Monday, March 24th. B. Riley cut shares of Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th.

Redfin Trading Down 0.1 %

RDFN stock opened at $10.21 on Friday. The firm has a 50 day moving average of $8.72 and a 200-day moving average of $9.48. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -7.98 and a beta of 2.90. Redfin has a 12-month low of $5.10 and a 12-month high of $15.29.

Insiders Place Their Bets

In related news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the transaction, the insider now directly owns 74,616 shares in the company, valued at approximately $831,968.40. This represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Redfin by 14.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 258,481 shares of the company’s stock worth $2,034,000 after acquiring an additional 33,327 shares during the last quarter. Two Sigma Advisers LP raised its stake in Redfin by 17.4% during the fourth quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock worth $19,865,000 after purchasing an additional 374,200 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Redfin in the 4th quarter valued at $27,000. Point72 Asset Management L.P. purchased a new stake in shares of Redfin during the 4th quarter valued at $1,018,000. Finally, ProShare Advisors LLC increased its holdings in shares of Redfin by 51.9% during the 4th quarter. ProShare Advisors LLC now owns 33,663 shares of the company’s stock worth $265,000 after buying an additional 11,503 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

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.