Redfin (NASDAQ:RDFN) Given New $7.00 Price Target at Susquehanna

Redfin (NASDAQ:RDFN) had its price target reduced by Susquehanna from $10.00 to $7.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price would indicate a potential upside of 7.96% from the stock’s current price.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group downgraded Redfin from a “neutral” rating to a “sell” rating and raised their price target for the stock from $6.00 to $6.50 in a report on Monday, November 18th. JPMorgan Chase & Co. reduced their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Monday. Wedbush increased their price objective on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. DA Davidson reiterated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research report on Wednesday, February 19th. Finally, Citigroup dropped their price target on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Redfin currently has a consensus rating of “Hold” and a consensus price target of $9.14.

Redfin Trading Down 2.8 %

RDFN traded down $0.19 on Monday, hitting $6.48. 2,395,934 shares of the company’s stock were exchanged, compared to its average volume of 5,452,025. The stock has a fifty day moving average of $8.07 and a two-hundred day moving average of $9.50. Redfin has a twelve month low of $5.10 and a twelve month high of $15.29. The firm has a market cap of $803.89 million, a PE ratio of -5.06 and a beta of 2.66.

Insider Activity

In other news, insider Christian John Taubman sold 16,333 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was 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 filing with the SEC, which is available through this link. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning raised its holdings in shares of Redfin by 8.1% in the 3rd quarter. Creative Planning now owns 15,826 shares of the company’s stock worth $198,000 after purchasing an additional 1,181 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Redfin by 3.3% in the fourth quarter. Cerity Partners LLC now owns 37,285 shares of the company’s stock valued at $293,000 after buying an additional 1,189 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Redfin by 10.7% in the fourth quarter. Merit Financial Group LLC now owns 15,848 shares of the company’s stock valued at $125,000 after buying an additional 1,529 shares in the last quarter. US Bancorp DE lifted its position in shares of Redfin by 48.3% during the 4th quarter. US Bancorp DE now owns 5,522 shares of the company’s stock valued at $43,000 after acquiring an additional 1,799 shares during the last quarter. Finally, Hollencrest Capital Management bought a new stake in shares of Redfin during the 3rd quarter worth $25,000. 61.07% of the stock is owned by institutional investors and hedge funds.

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.