Redfin Co. (NASDAQ:RDFN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have been given an average rating of “Hold” by the thirteen analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $10.03.

A number of brokerages have issued reports on RDFN. JPMorgan Chase & Co. increased their target price on shares of Redfin from $7.00 to $12.50 and gave the company a “neutral” rating in a report on Monday, March 24th. Piper Sandler raised Redfin from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $4.00 to $12.50 in a report on Tuesday, March 11th. Citigroup decreased their price objective on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research note on Tuesday, March 11th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a research note on Wednesday, February 19th.

Redfin Trading Up 7.0 %

Shares of RDFN stock opened at $10.24 on Friday. The stock has a 50 day simple moving average of $8.83 and a 200-day simple moving average of $9.42. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -8.00 and a beta of 2.90. Redfin has a 12-month low of $5.10 and a 12-month high of $15.29.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total value of $180,730.35. Following the completion of the sale, the insider now directly owns 74,616 shares in the company, valued at approximately $831,968.40. This represents a 17.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Redfin

Hedge funds have recently modified their holdings of the stock. Cerity Partners LLC grew its position in Redfin by 3.3% in the fourth quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock valued at $293,000 after acquiring an additional 1,189 shares in the last quarter. Merit Financial Group LLC boosted its position in Redfin by 10.7% in the 4th quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock valued at $125,000 after buying an additional 1,529 shares during the last quarter. US Bancorp DE grew its stake 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 acquiring an additional 1,799 shares in the last quarter. Blue Trust Inc. increased its position 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 acquiring an additional 2,520 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Redfin by 4.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,377 shares of the company’s stock worth $530,000 after acquiring an additional 3,091 shares in the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

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.