Redfin’s (RDFN) Neutral Rating Reiterated at DA Davidson

DA Davidson reissued their neutral rating on shares of Redfin (NASDAQ:RDFN) in a research note published on Wednesday,Benzinga reports. DA Davidson currently has a $7.25 target price on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Jefferies Financial Group increased their price objective on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Citigroup decreased their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and raised their price target for the stock from $6.00 to $6.50 in a research report on Monday, November 18th. Finally, Wedbush raised their price target on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Redfin has an average rating of “Hold” and an average price target of $9.16.

Redfin Stock Down 9.6 %

Shares of Redfin stock opened at $7.81 on Wednesday. The firm has a market capitalization of $968.04 million, a P/E ratio of -6.10 and a beta of 2.66. The company has a 50 day moving average price of $8.13 and a 200 day moving average price of $9.44. Redfin has a 52 week low of $5.10 and a 52 week high of $15.29.

Insider Transactions at Redfin

In related news, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the sale, the insider now directly owns 73,466 shares in the company, valued at approximately $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 accessible through this link. Insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in Redfin by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after buying an additional 92,023 shares during the period. Tidal Investments LLC purchased a new stake in Redfin during the third quarter worth about $10,650,000. Ballentine Partners LLC purchased a new stake in Redfin during the fourth quarter worth about $81,000. Geode Capital Management LLC increased its stake in Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock worth $37,884,000 after purchasing an additional 66,018 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Redfin by 476.6% during the third quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company’s stock worth $10,018,000 after purchasing an additional 660,872 shares during the period. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

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.