Redfin (NASDAQ:RDFN) Shares Gap Down – Time to Sell?

Shares of Redfin Co. (NASDAQ:RDFN) gapped down prior to trading on Monday . The stock had previously closed at $8.37, but opened at $7.96. Redfin shares last traded at $8.00, with a volume of 1,431,071 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RDFN. Wedbush upped their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Susquehanna upped their price objective on Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Jefferies Financial Group lifted their target price on Redfin from $7.50 to $11.50 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.98.

Redfin Stock Down 3.3 %

The stock has a fifty day moving average price of $11.12 and a 200-day moving average price of $8.66. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -6.28 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The business had revenue of $278.02 million for the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. As a group, research analysts expect that Redfin Co. will post -1.23 earnings per share for the current year.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the transaction, the insider now owns 71,720 shares of the company’s stock, valued at $663,410. The trade was a 4.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Redfin by 11.3% during the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after purchasing an additional 1,953,127 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Redfin by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after purchasing an additional 66,018 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Redfin by 25.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock valued at $14,450,000 after buying an additional 445,486 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Redfin by 124.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after buying an additional 1,193,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Redfin by 210.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock worth $13,687,000 after buying an additional 740,759 shares during the period. Hedge funds and other institutional investors own 61.07% of the company’s stock.

About Redfin

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.