Redfin Co. (NASDAQ:RDFN) Receives Average Recommendation of “Hold” from Brokerages
Redfin Co. (NASDAQ:RDFN) has been given an average rating of “Hold” by the twenty ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $60.08.
Several equities research analysts have issued reports on the company. DA Davidson lifted their price objective on Redfin from $70.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, March 3rd. Piper Sandler lifted their price objective on Redfin from $73.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday, March 3rd. Oppenheimer restated a “hold” rating on shares of Redfin in a report on Thursday, February 25th. Wedbush lifted their price objective on Redfin from $59.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, January 6th. Finally, Evercore ISI began coverage on Redfin in a research report on Tuesday, April 13th. They issued an “in-line” rating and a $75.00 target price for the company.
Shares of NASDAQ:RDFN traded down $3.55 during mid-day trading on Tuesday, hitting $65.69. 24,557 shares of the company traded hands, compared to its average volume of 1,660,410. The firm has a market cap of $6.78 billion, a P/E ratio of -135.14 and a beta of 1.96. Redfin has a 52-week low of $18.34 and a 52-week high of $98.44. The firm’s 50 day simple moving average is $67.76 and its 200 day simple moving average is $65.93.
In other news, insider Adam Wiener sold 6,500 shares of the business’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $75.43, for a total value of $490,295.00. Following the sale, the insider now owns 297,072 shares of the company’s stock, valued at approximately $22,408,140.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn Kelman sold 30,000 shares of the business’s stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $66.39, for a total value of $1,991,700.00. Following the completion of the sale, the chief executive officer now directly owns 1,569,293 shares in the company, valued at approximately $104,185,362.27. The disclosure for this sale can be found here. Insiders have sold a total of 64,350 shares of company stock worth $4,340,988 in the last ninety days. 8.20% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Redfin during the first quarter worth $34,000. Trustcore Financial Services LLC raised its position in Redfin by 62.5% during the first quarter. Trustcore Financial Services LLC now owns 650 shares of the company’s stock valued at $43,000 after buying an additional 250 shares during the period. Orion Capital Management LLC acquired a new position in Redfin during the fourth quarter valued at $48,000. HHM Wealth Advisors LLC acquired a new position in Redfin during the first quarter valued at $47,000. Finally, Parallel Advisors LLC raised its position in Redfin by 28.3% during the fourth quarter. Parallel Advisors LLC now owns 924 shares of the company’s stock valued at $63,000 after buying an additional 204 shares during the period. 83.82% of the stock is currently owned by institutional investors.
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; originates and sells mortgages; and buys and sells homes.
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