Redfin (NASDAQ:RDFN) Upgraded at Gordon Haskett

Redfin (NASDAQ:RDFN) was upgraded by analysts at Gordon Haskett to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. reduced their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. Citigroup reduced their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, B. Riley lowered Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.48.

Redfin Price Performance

Shares of RDFN opened at $10.38 on Monday. The company has a market cap of $1.31 billion, a P/E ratio of -8.11 and a beta of 2.90. The stock has a fifty day moving average price of $7.97 and a 200 day moving average price of $9.42. Redfin has a 12 month low of $5.10 and a 12 month high of $15.29.

Insider Activity

In other news, insider Christian John Taubman sold 16,333 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was 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. This represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Several hedge funds have recently modified their holdings of the stock. Hennessy Advisors Inc. purchased a new stake in shares of Redfin during the fourth quarter valued at $40,109,000. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 56,865 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Redfin by 17.4% during the fourth quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock valued at $19,865,000 after purchasing an additional 374,200 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Redfin by 11.0% during the fourth 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. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Redfin by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock valued at $8,042,000 after purchasing an additional 23,621 shares during the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.

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.