Brokerages Set Redfin Co. (NASDAQ:RDFN) Target Price at $10.45

Redfin Co. (NASDAQ:RDFN - Get Free Report) has earned a consensus rating of "Hold" from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.45.

RDFN has been the topic of a number of analyst reports. B. Riley downgraded Redfin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 10th. JPMorgan Chase & Co. boosted their target price on shares of Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Gordon Haskett raised shares of Redfin to a "hold" rating in a research note on Monday, March 10th. DA Davidson reiterated a "neutral" rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, February 19th. Finally, Zelman & Associates raised shares of Redfin to a "strong-buy" rating in a report on Wednesday, March 5th.

Redfin Stock Performance

Redfin stock traded down $0.24 during trading hours on Thursday, reaching $10.80. 3,691,982 shares of the stock were exchanged, compared to its average volume of 6,609,421. Redfin has a 52-week low of $5.49 and a 52-week high of $15.29. The stock has a market cap of $1.38 billion, a P/E ratio of -8.44 and a beta of 2.38. The firm's 50 day moving average is $9.48 and its 200 day moving average is $8.97.

Redfin (NASDAQ:RDFN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.04). The firm had revenue of $221.03 million for the quarter, compared to analyst estimates of $220.89 million. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.57) EPS. Equities research analysts expect that Redfin will post -1.25 EPS for the current fiscal year.

Insider Buying and Selling at Redfin

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

Institutional Investors Weigh In On Redfin

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Magnetar Financial LLC purchased a new position in Redfin during the first quarter worth $39,001,000. Geode Capital Management LLC boosted its stake in shares of Redfin by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 3,079,813 shares of the company's stock valued at $24,243,000 after acquiring an additional 56,865 shares during the last quarter. Two Sigma Advisers LP increased its position in Redfin by 17.4% during the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company's stock worth $19,865,000 after purchasing an additional 374,200 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in Redfin in the 1st quarter valued at about $12,150,000. Finally, Northern Trust Corp raised its stake in Redfin by 11.0% in the 4th quarter. Northern Trust Corp now owns 1,147,666 shares of the company's stock valued at $9,032,000 after purchasing an additional 113,466 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company's stock.

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.