Redfin (RDFN) Stock Rating Lowered by BidaskClub
BidaskClub cut shares of Redfin (NASDAQ:RDFN) from a hold rating to a sell rating in a report issued on Wednesday morning.
A number of other research analysts have also commented on RDFN. Piper Jaffray Companies restated a hold rating and issued a $26.00 target price on shares of Redfin in a research note on Wednesday, November 1st. Oppenheimer cut their target price on Redfin from $31.00 to $27.00 and set an outperform rating for the company in a research note on Friday, November 10th. Bank of America cut their target price on Redfin from $28.00 to $25.00 and set a neutral rating for the company in a research note on Friday, November 10th. Royal Bank of Canada restated a hold rating and issued a $28.00 target price on shares of Redfin in a research note on Friday, November 10th. Finally, Zacks Investment Research upgraded Redfin from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Wednesday, November 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Redfin currently has an average rating of Hold and an average target price of $25.73.
Redfin (NASDAQ:RDFN) opened at $21.43 on Wednesday. Redfin has a 1-year low of $19.18 and a 1-year high of $33.49. The company has a market capitalization of $1,820.00 and a P/E ratio of -7.97.
In other Redfin news, CTO Bridget Frey sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.66, for a total value of $103,300.00. Following the sale, the chief technology officer now directly owns 42,083 shares in the company, valued at $869,434.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher John Nielsen sold 25,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.51, for a total value of $512,750.00. Following the completion of the sale, the chief financial officer now owns 25,000 shares in the company, valued at $512,750. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $824,250 over the last 90 days.
A number of large investors have recently made changes to their positions in the business. Teachers Advisors LLC grew its position in Redfin by 12.4% in the fourth quarter. Teachers Advisors LLC now owns 20,569 shares of the company’s stock valued at $644,000 after acquiring an additional 2,267 shares during the period. Bank of New York Mellon Corp grew its position in Redfin by 13.0% in the fourth quarter. Bank of New York Mellon Corp now owns 37,489 shares of the company’s stock valued at $1,174,000 after acquiring an additional 4,308 shares during the period. MetLife Investment Advisors LLC bought a new stake in Redfin in the fourth quarter valued at $155,000. Advisor Group Inc. bought a new stake in Redfin in the third quarter valued at $129,000. Finally, SG Americas Securities LLC bought a new stake in Redfin in the third quarter valued at $139,000. Hedge funds and other institutional investors own 52.30% of the company’s stock.
Redfin Company Profile
Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.
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