Redfin Co. (NASDAQ:RDFN) Given Consensus Rating of “Hold” by Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have earned a consensus rating of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Two 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 12 month price objective among brokers that have updated their coverage on the stock in the last year is $8.98.

Several analysts have recently issued reports on the company. Wedbush upped their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Susquehanna raised their target price on shares of Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group boosted their target price on shares of Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd.

Redfin Stock Performance

NASDAQ:RDFN opened at $9.66 on Friday. The company has a market capitalization of $1.20 billion, a P/E ratio of -7.55 and a beta of 2.70. The stock’s 50 day moving average price is $10.53 and its 200 day moving average price is $8.77. Redfin has a 52 week low of $5.10 and a 52 week high of $15.29.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The firm had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the prior year, the company earned ($0.17) EPS. As a group, sell-side analysts forecast that Redfin will post -1.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total value of $70,955.31. Following the sale, the insider now owns 29,978 shares of the company’s stock, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

A number of hedge funds and other institutional investors have recently made changes to their positions in RDFN. Hollencrest Capital Management acquired a new position in Redfin in the third quarter worth about $25,000. Blue Trust Inc. boosted its holdings in Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after purchasing an additional 2,446 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Redfin in the 3rd quarter valued at approximately $47,000. Mather Group LLC. raised its holdings in shares of Redfin by 282.1% in the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after buying an additional 2,821 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Redfin during the 3rd quarter worth approximately $48,000. 61.07% of the stock is owned by 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.