Redfin (NASDAQ:RDFN) Price Target Raised to $10.00

Redfin (NASDAQ:RDFN) had its target price boosted by Susquehanna from $7.00 to $10.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. B. Riley boosted their target price on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Jefferies Financial Group raised their target price on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Wedbush increased their price target on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.23.

Redfin Trading Down 0.9 %

RDFN opened at $8.71 on Monday. Redfin has a 52-week low of $5.10 and a 52-week high of $15.29. The company has a 50 day moving average of $11.14 and a two-hundred day moving average of $8.60.

Redfin (NASDAQ:RDFN) last announced its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million during the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. On average, research analysts expect that Redfin will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the transaction, the insider now owns 71,720 shares in the company, valued at approximately $663,410. This represents a 4.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

A number of hedge funds have recently made changes to their positions in RDFN. Susquehanna Fundamental Investments LLC grew its holdings in Redfin by 98.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 89,244 shares of the company’s stock worth $536,000 after buying an additional 44,377 shares in the last quarter. Vanguard Group Inc. boosted its position in Redfin by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after acquiring an additional 1,953,127 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Redfin during the first quarter valued at $58,000. SG Americas Securities LLC acquired a new position in shares of Redfin during the third quarter valued at $616,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock valued at $14,450,000 after purchasing an additional 445,486 shares in the last quarter. Institutional investors 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.