Shares of Redfin Corp (NASDAQ:RDFN) have received a consensus rating of “Hold” from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $25.78.
Several analysts recently weighed in on the company. BidaskClub cut Redfin from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Royal Bank of Canada reissued a “hold” rating and set a $28.00 price target on shares of Redfin in a report on Friday, November 10th. Piper Jaffray Companies restated a “hold” rating and set a $26.00 price objective on shares of Redfin in a research note on Wednesday, November 1st. Zacks Investment Research lowered Redfin from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Finally, Bank of America lowered their price objective on Redfin from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th.
A number of institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. bought a new position in Redfin during the 4th quarter worth $382,000. Geode Capital Management LLC increased its stake in Redfin by 25.0% during the 4th quarter. Geode Capital Management LLC now owns 127,850 shares of the company’s stock worth $4,004,000 after acquiring an additional 25,596 shares during the period. Allianz Asset Management GmbH bought a new position in Redfin during the 4th quarter worth $18,878,000. Jackson Square Partners LLC bought a new position in Redfin during the 4th quarter worth $51,927,000. Finally, Dumac Inc. bought a new position in shares of Redfin in the 4th quarter valued at $14,203,000. Hedge funds and other institutional investors own 38.45% of the company’s stock.
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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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