Redfin’s (RDFN) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Redfin (NASDAQ:RDFN) in a research report report published on Tuesday,Benzinga reports.

RDFN has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Susquehanna lowered their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Piper Sandler reduced their price target on Redfin from $7.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, March 6th. Zelman & Associates raised Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group downgraded shares of Redfin from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $6.00 to $6.50 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.48.

Redfin Stock Down 0.1 %

NASDAQ:RDFN opened at $9.76 on Tuesday. The stock’s fifty day moving average is $7.92 and its two-hundred day moving average is $9.41. Redfin has a 52 week low of $5.10 and a 52 week high of $15.29. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -7.63 and a beta of 2.90.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 16,333 shares of the firm’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 transaction, the insider now owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Redfin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Redfin in the 4th quarter valued at about $27,000. R Squared Ltd purchased a new position in shares of Redfin in the 4th quarter valued at approximately $33,000. US Bancorp DE increased its holdings in shares of Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after purchasing an additional 1,799 shares during the period. Blue Trust Inc. raised its stake in shares of Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after purchasing an additional 2,520 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Redfin during the third quarter worth approximately $47,000. 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.