Redfin (NASDAQ:RDFN) Downgraded by B. Riley to Hold

B. Riley lowered shares of Redfin (NASDAQ:RDFN) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Several other research firms have also recently issued reports on RDFN. Citigroup cut their target price on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. DA Davidson restated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a report on Tuesday. Susquehanna lowered their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.48.

Redfin Stock Performance

NASDAQ RDFN opened at $9.76 on Monday. The stock’s fifty day moving average is $7.92 and its two-hundred day moving average is $9.41. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The firm has a market capitalization of $1.23 billion, a P/E ratio of -7.63 and a beta of 2.90.

Insiders Place Their Bets

In other news, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were 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 directly owns 73,466 shares of the company’s stock, valued at $620,053.04. The trade was a 18.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

Several large investors have recently added to or reduced their stakes in the stock. Entropy Technologies LP increased its holdings in Redfin by 119.1% in the third quarter. Entropy Technologies LP now owns 46,357 shares of the company’s stock valued at $581,000 after buying an additional 25,200 shares during the last quarter. GSA Capital Partners LLP increased its stake in Redfin by 53.2% during the 3rd quarter. GSA Capital Partners LLP now owns 139,203 shares of the company’s stock valued at $1,744,000 after buying an additional 48,313 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Redfin during the third quarter worth approximately $291,000. Quest Partners LLC bought a new stake in shares of Redfin in the 3rd quarter worth $47,000. Finally, CAP Partners LLC raised its holdings in shares of Redfin by 13.4% in the 3rd quarter. CAP Partners LLC now owns 41,104 shares of the company’s stock worth $515,000 after purchasing an additional 4,847 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

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.