Redfin Co. (NASDAQ:RDFN) Given Average Rating of “Reduce” by Analysts

Redfin Co. (NASDAQ:RDFN – Get Rating) has been assigned an average rating of “Hold” from the eighteen brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and ten have issued a hold rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.60.

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Redfin from $5.00 to $10.00 in a report on Friday, February 17th. DA Davidson boosted their target price on shares of Redfin from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, March 9th. Citigroup boosted their target price on shares of Redfin from $5.00 to $8.60 and gave the company a “neutral” rating in a report on Tuesday, February 14th. Susquehanna boosted their target price on shares of Redfin from $4.50 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, February 21st. Finally, The Goldman Sachs Group boosted their target price on shares of Redfin from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Friday, February 17th.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 10,000 shares of the company’s stock in a transaction on Monday, April 10th. The shares were sold at an average price of $8.75, for a total value of $87,500.00. Following the completion of the transaction, the insider now directly owns 34,492 shares in the company, valued at $301,805. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can purchased a new stake in Redfin during the third quarter valued at about $26,000. Point72 Middle East FZE purchased a new stake in Redfin during the fourth quarter valued at about $41,000. Ameraudi Asset Management Inc. purchased a new stake in Redfin during the fourth quarter valued at about $46,000. Bleakley Financial Group LLC purchased a new stake in Redfin during the fourth quarter valued at about $46,000. Finally, Gerber Kawasaki Wealth & Investment Management purchased a new stake in Redfin during the fourth quarter valued at about $50,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Trading Down 6.9 %

NASDAQ:RDFN opened at $9.80 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.77 and a debt-to-equity ratio of 44.94. The stock has a market capitalization of $1.09 billion, a PE ratio of -3.66 and a beta of 2.28. The firm’s 50 day moving average is $8.83 and its 200 day moving average is $7.08. Redfin has a 12 month low of $3.08 and a 12 month high of $13.03.

About Redfin

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Redfin Corp. engages in the management of an online real estate marketplace and provision of real estate services. It operates through the following segments: Real Estate Services, Properties, Rentals, Mortgage, and Other. The company was founded by David Selinger, David Eraker, and Michael Dougherty in October 2002 and is headquartered in Seattle, WA.