Jefferies Financial Group Boosts Redfin (NASDAQ:RDFN) Price Target to $11.50

by · The Cerbat Gem

Redfin (NASDAQ:RDFN – Free Report) had its price objective lifted by Jefferies Financial Group from $7.50 to $11.50 in a research note released on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

RDFN has been the topic of several other reports. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Redfin in a research note on Wednesday, August 7th. Susquehanna lowered their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.20.

Read Our Latest Stock Report on RDFN

Redfin Stock Performance

Redfin stock opened at $10.02 on Tuesday. The firm has a 50 day moving average price of $11.02 and a 200 day moving average price of $8.14. Redfin has a fifty-two week low of $4.26 and a fifty-two week high of $15.29. The company has a market capitalization of $1.22 billion, a PE ratio of -8.56 and a beta of 2.68.

Redfin (NASDAQ:RDFN – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.03. The firm had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. Redfin’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) EPS. As a group, equities research analysts forecast that Redfin will post -1.13 earnings per share for the current year.

Insider Activity

In related news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the sale, the insider now directly owns 71,720 shares of the company’s stock, valued at $663,410. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. lifted its position in Redfin by 282.1% during the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after acquiring an additional 2,821 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Redfin by 205.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after acquiring an additional 3,101 shares in the last quarter. Blue Trust Inc. raised its holdings in Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after purchasing an additional 2,446 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Redfin in the third quarter valued at $48,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Redfin in the first quarter valued at $58,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

About Redfin

(Get Free Report)

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.

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