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

Shares of Redfin Co. (NASDAQ:RDFN - Get Free Report) have been assigned an average recommendation of "Hold" from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $10.25.

Several brokerages recently commented on RDFN. Needham & Company LLC reaffirmed a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. Susquehanna decreased their price target on Redfin from $10.00 to $7.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Zelman & Associates raised Redfin to a "strong-buy" rating in a research note on Wednesday, March 5th. Royal Bank of Canada boosted their price target on Redfin from $8.00 to $12.50 and gave the company a "sector perform" rating in a research note on Tuesday, April 15th. Finally, B. Riley downgraded Redfin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 10th.

Insider Transactions at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the sale, the insider now directly owns 74,616 shares of the company's stock, valued at $831,968.40. The trade was a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redfin

Institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Redfin during the fourth quarter worth $27,000. R Squared Ltd acquired a new stake in shares of Redfin during the fourth quarter worth $33,000. 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 worth $43,000 after purchasing an additional 1,799 shares during the period. Blue Trust Inc. grew its stake in Redfin by 76.3% in the fourth 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. Finally, FNY Investment Advisers LLC acquired a new position in Redfin in the first quarter valued at about $46,000. 61.07% of the stock is owned by institutional investors and hedge funds.

Redfin Stock Performance

Shares of NASDAQ:RDFN traded down $0.16 during trading on Wednesday, hitting $9.03. 4,746,308 shares of the stock were exchanged, compared to its average volume of 6,246,040. The company's fifty day simple moving average is $9.04 and its 200-day simple moving average is $8.97. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -7.05 and a beta of 2.56. Redfin has a 1-year low of $5.32 and a 1-year high of $15.29.

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.