REDFIN CORP’s (NASDAQ:RDFN) quiet period is set to expire on Wednesday, September 6th. REDFIN CORP had issued 9,231,000 shares in its IPO on July 28th. The total size of the offering was $138,465,000 based on an initial share price of $15.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Several brokerages recently commented on RDFN. Bank of America Corporation reaffirmed a “neutral” rating and issued a $28.00 target price on shares of REDFIN CORP in a research report on Tuesday, August 22nd. Royal Bank Of Canada began coverage on REDFIN CORP in a research report on Tuesday, August 22nd. They issued a “sector perform” rating and a $28.00 target price for the company. Stifel Nicolaus began coverage on REDFIN CORP in a research report on Tuesday, August 22nd. They issued a “hold” rating and a $24.00 target price for the company. Goldman Sachs Group, Inc. (The) began coverage on REDFIN CORP in a research report on Tuesday, August 22nd. They issued a “neutral” rating and a $20.00 target price for the company. Finally, Oppenheimer Holdings, Inc. began coverage on REDFIN CORP in a research report on Tuesday, August 22nd. They issued an “outperform” rating and a $31.00 target price for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.00.

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REDFIN CORP (RDFN) traded up 4.53% on Friday, reaching $23.30. The company’s stock had a trading volume of 559,662 shares. REDFIN CORP has a 12 month low of $19.29 and a 12 month high of $33.49. The company has a 50-day moving average price of $25.65 and a 200 day moving average price of $24.60. The company’s market cap is $1.64 billion.

In other news, major shareholder Tiger Global Management Llc purchased 260,000 shares of REDFIN CORP stock in a transaction that occurred on Friday, July 28th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $3,900,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

REDFIN CORP Company Profile

Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.

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