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

Redfin Co. (NASDAQ:RDFN) has earned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.98.

Several analysts recently issued reports on RDFN shares. Wedbush raised their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and boosted their target price for the company from $6.00 to $6.50 in a research note on Monday, November 18th. Finally, B. Riley raised their price target on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th.

Insiders Place Their Bets

In other news, insider Anthony Ray Kappus sold 8,417 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the sale, the insider now owns 29,978 shares of the company’s stock, valued at approximately $252,714.54. The trade was a 21.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RDFN. Charles Schwab Investment Management Inc. boosted its position in shares of Redfin by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after purchasing an additional 92,023 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in Redfin by 98.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 89,244 shares of the company’s stock valued at $536,000 after purchasing an additional 44,377 shares during the last quarter. Tidal Investments LLC bought a new stake in Redfin during the third quarter worth approximately $10,650,000. SG Americas Securities LLC acquired a new position in Redfin in the third quarter worth approximately $616,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Redfin by 476.6% in the third quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock valued at $10,018,000 after buying an additional 660,872 shares in the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.

Redfin Stock Performance

Shares of NASDAQ:RDFN opened at $8.35 on Thursday. The company’s fifty day moving average is $9.49 and its two-hundred day moving average is $9.10. Redfin has a 1-year low of $5.10 and a 1-year high of $15.29. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -6.52 and a beta of 2.63.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter last year, the business posted ($0.17) EPS. Sell-side analysts expect that Redfin will post -1.25 EPS for the current fiscal year.

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.