Redfin Co. (NASDAQ:RDFN) Given Average Recommendation of “Hold” by Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have earned an average rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $8.63.

Several equities research analysts have recently issued reports on the company. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Wednesday, February 19th. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and lifted their price target for the company from $6.00 to $6.50 in a report on Monday, November 18th. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a report on Wednesday, March 5th. Citigroup reduced their target price on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd.

Redfin Price Performance

Shares of Redfin stock opened at $9.77 on Tuesday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -7.63 and a beta of 2.90. Redfin has a 52-week low of $5.10 and a 52-week high of $15.29. The stock has a 50-day simple moving average of $7.88 and a 200-day simple moving average of $9.42.

Insider Transactions at Redfin

In other 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 transaction, the insider now directly owns 73,466 shares in the company, valued at $620,053.04. The trade was a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Creative Planning lifted its holdings in shares of Redfin by 8.1% during the third quarter. Creative Planning now owns 15,826 shares of the company’s stock worth $198,000 after buying an additional 1,181 shares during the last quarter. Cerity Partners LLC increased its position in shares of Redfin by 3.3% during the fourth quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock valued at $293,000 after purchasing an additional 1,189 shares during the period. Merit Financial Group LLC increased its position in shares of Redfin by 10.7% during the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock valued at $125,000 after purchasing an additional 1,529 shares during the period. US Bancorp DE increased its position in shares of Redfin by 48.3% during 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. Finally, Hollencrest Capital Management bought a new stake in shares of Redfin during the third quarter valued at approximately $25,000. 61.07% of the stock is currently owned by institutional investors and hedge funds.

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.