Redfin (NASDAQ:RDFN) Lowered to Hold Rating by B. Riley

Redfin (NASDAQ:RDFN) was downgraded by research analysts at B. Riley from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently commented on RDFN. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. DA Davidson reiterated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, February 19th. Susquehanna lowered their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Citigroup cut their target price on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.48.

Redfin Stock Down 0.1 %

Shares of Redfin stock opened at $9.76 on Monday. The company has a market capitalization of $1.23 billion, a PE ratio of -7.63 and a beta of 2.90. Redfin has a 52 week low of $5.10 and a 52 week high of $15.29. The stock’s fifty day moving average is $7.92 and its two-hundred day moving average is $9.41.

Insider Activity

In other news, insider Christian John Taubman sold 16,333 shares of the 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 completion of the sale, the insider now owns 73,466 shares in the company, 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 this hyperlink. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Redfin during the fourth quarter valued at approximately $27,000. R Squared Ltd purchased a new position in shares of Redfin during the fourth quarter worth approximately $33,000. US Bancorp DE raised its stake in shares of Redfin by 48.3% during the fourth quarter. US Bancorp DE now owns 5,522 shares of the company’s stock worth $43,000 after acquiring an additional 1,799 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Redfin by 76.3% during the fourth quarter. Blue Trust Inc. now owns 5,822 shares of the company’s stock worth $46,000 after acquiring an additional 2,520 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Redfin in the third quarter worth $47,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

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.