Redfin (NASDAQ:RDFN) Stock Price Down 5.2% – Time to Sell?

Redfin Co. (NASDAQ:RDFN)’s stock price was down 5.2% during trading on Thursday . The stock traded as low as $10.58 and last traded at $10.59. Approximately 935,689 shares changed hands during trading, a decline of 83% from the average daily volume of 5,493,906 shares. The stock had previously closed at $11.17.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. B. Riley raised their price target on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Susquehanna decreased their target price 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 restated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.88.

Redfin Price Performance

The company has a market capitalization of $1.30 billion, a PE ratio of -9.39 and a beta of 2.68. The company’s fifty day moving average is $10.63 and its 200-day moving average is $7.98.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The company had revenue of $295.20 million during the quarter, compared to analysts’ expectations of $291.59 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.25) earnings per share. Equities research analysts forecast that Redfin Co. will post -1.13 EPS for the current fiscal year.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of Redfin 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 transaction, the insider now directly owns 71,720 shares of the company’s stock, valued at approximately $663,410. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

A number of large investors have recently modified their holdings of RDFN. Creative Planning grew its holdings in shares of Redfin by 8.1% during the third quarter. Creative Planning now owns 15,826 shares of the company’s stock valued at $198,000 after buying an additional 1,181 shares during the last quarter. Clarius Group LLC grew its stake in Redfin by 49.5% during the 3rd quarter. Clarius Group LLC now owns 134,554 shares of the company’s stock valued at $1,686,000 after purchasing an additional 44,532 shares during the last quarter. CWM LLC increased its holdings in shares of Redfin by 45.6% in the third quarter. CWM LLC now owns 8,725 shares of the company’s stock valued at $109,000 after purchasing an additional 2,734 shares during the period. Axiom Advisory LLC raised its stake in shares of Redfin by 106.5% in the third quarter. Axiom Advisory LLC now owns 63,104 shares of the company’s stock worth $791,000 after purchasing an additional 32,538 shares during the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Redfin in the third quarter worth about $250,000. 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.