Redfin (NASDAQ:RDFN) Trading Down 2.2% – Should You Sell?

Redfin Co. (NASDAQ:RDFN)’s stock price fell 2.2% on Monday . The company traded as low as $10.84 and last traded at $10.80. 426,254 shares changed hands during trading, a decline of 93% from the average session volume of 6,001,618 shares. The stock had previously closed at $11.04.

Wall Street Analyst Weigh In

Several analysts recently commented on RDFN shares. Gordon Haskett upgraded shares of Redfin to a “hold” rating in a research note on Monday, March 10th. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a report on Wednesday, March 5th. 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. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. Finally, B. Riley cut shares of Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.03.

Redfin Price Performance

The company’s 50-day moving average is $8.43 and its 200-day moving average is $9.46. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -8.66 and a beta of 2.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDFN. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Redfin in the 4th quarter worth about $27,000. Quest Partners LLC acquired a new position in Redfin during the third quarter valued at approximately $47,000. R Squared Ltd purchased a new stake in Redfin during the fourth quarter worth approximately $33,000. US Bancorp DE increased its position in shares of Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after acquiring an additional 1,799 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Redfin by 76.3% in the 4th quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock valued at $46,000 after acquiring an additional 2,520 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

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.