Redfin (NASDAQ:RDFN) Price Target Increased to $10.00 by Analysts at DA Davidson

Redfin (NASDAQ:RDFN – Get Rating) had its price target increased by DA Davidson from $7.50 to $10.00 in a note issued to investors on Friday, The Fly reports. DA Davidson’s price objective would suggest a potential upside of 4.71% from the company’s previous close.

A number of other brokerages also recently issued reports on RDFN. Oppenheimer raised their price target on shares of Redfin from $3.20 to $7.00 and gave the stock an “underweight” rating in a report on Friday, February 17th. Compass Point upgraded shares of Redfin from a “sell” rating to a “neutral” rating and set a $7.00 price target for the company in a report on Friday, May 5th. Piper Sandler raised their price target on shares of Redfin from $3.00 to $5.00 and gave the stock an “underweight” rating in a report on Tuesday, February 21st. JPMorgan Chase & Co. began coverage on shares of Redfin in a report on Monday, February 27th. They set a “neutral” rating and a $8.00 price target for the company. Finally, Royal Bank of Canada raised their price target on shares of Redfin from $5.00 to $10.00 in a report on Friday, February 17th. Two analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.76.

Redfin Stock Down 2.7 %

RDFN stock opened at $9.55 on Friday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -3.56 and a beta of 2.28. The company has a current ratio of 1.80, a quick ratio of 1.77 and a debt-to-equity ratio of 44.94. Redfin has a 12 month low of $3.08 and a 12 month high of $13.03. The firm has a 50-day moving average of $8.87 and a two-hundred day moving average of $7.11.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $8.75, for a total value of $87,500.00. Following the completion of the transaction, the insider now owns 34,492 shares of the company’s stock, valued at approximately $301,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redfin

Several institutional investors have recently modified their holdings of RDFN. AlphaCrest Capital Management LLC purchased a new stake in shares of Redfin during the 1st quarter worth $436,000. Bank of Montreal Can raised its stake in Redfin by 207.7% during the 1st quarter. Bank of Montreal Can now owns 18,905 shares of the company’s stock worth $357,000 after acquiring an additional 12,762 shares in the last quarter. MetLife Investment Management LLC raised its stake in Redfin by 55.8% during the 1st quarter. MetLife Investment Management LLC now owns 55,652 shares of the company’s stock worth $1,004,000 after acquiring an additional 19,937 shares in the last quarter. Rhumbline Advisers raised its stake in Redfin by 1.9% during the 1st quarter. Rhumbline Advisers now owns 113,151 shares of the company’s stock worth $2,041,000 after acquiring an additional 2,083 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Redfin by 2.5% during the 1st quarter. Brown Brothers Harriman & Co. now owns 41,236 shares of the company’s stock worth $744,000 after acquiring an additional 1,000 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

About Redfin

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Redfin Corp. engages in the management of an online real estate marketplace and provision of real estate services. It operates through the following segments: Real Estate Services, Properties, Rentals, Mortgage, and Other. The company was founded by David Selinger, David Eraker, and Michael Dougherty in October 2002 and is headquartered in Seattle, WA.