JPMorgan Chase & Co. Cuts Redfin (NASDAQ:RDFN) Price Target to $7.00

Redfin (NASDAQ:RDFN) had its target price trimmed by JPMorgan Chase & Co. from $8.00 to $7.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

RDFN has been the topic of several other reports. Wedbush upped their price target on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Susquehanna upped their target price on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. The Goldman Sachs Group lowered Redfin from a “neutral” rating to a “sell” rating and upped their target price for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Finally, Citigroup dropped their target price on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.14.

Redfin Trading Up 0.8 %

NASDAQ:RDFN opened at $6.40 on Monday. The firm has a market capitalization of $808.89 million, a price-to-earnings ratio of -5.00 and a beta of 2.90. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The business’s fifty day moving average price is $7.98 and its 200 day moving average price is $9.48.

Insider Transactions at Redfin

In related news, insider Christian John Taubman sold 16,333 shares of the 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 sale, the insider now owns 73,466 shares in the company, valued at $620,053.04. This represents a 18.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Redfin

Several hedge funds have recently added to or reduced their stakes in RDFN. Creative Planning boosted its stake in Redfin by 8.1% during the 3rd quarter. Creative Planning now owns 15,826 shares of the company’s stock valued at $198,000 after purchasing an additional 1,181 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Redfin during the 3rd quarter valued at approximately $48,000. Financial Advocates Investment Management boosted its stake in Redfin by 21.6% during the 3rd quarter. Financial Advocates Investment Management now owns 11,815 shares of the company’s stock valued at $148,000 after purchasing an additional 2,100 shares during the period. Hollencrest Capital Management bought a new stake in Redfin during the 3rd quarter valued at approximately $25,000. Finally, Entropy Technologies LP boosted its stake in Redfin by 119.1% during the 3rd quarter. Entropy Technologies LP now owns 46,357 shares of the company’s stock valued at $581,000 after purchasing an additional 25,200 shares during the period. 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.