Redfin Corp (NASDAQ:RDFN) shares gapped down prior to trading on Monday . The stock had previously closed at $22.02, but opened at $20.96. Redfin shares last traded at $20.96, with a volume of 5126900 shares trading hands.
Several research analysts have recently commented on the stock. BidaskClub lowered shares of Redfin from a “hold” rating to a “sell” rating in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of Redfin in a research note on Thursday, February 1st. Jefferies Group started coverage on shares of Redfin in a research note on Tuesday, February 6th. They issued a “buy” rating and a $28.00 price objective for the company. Royal Bank of Canada upgraded shares of Redfin from a “sector perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research note on Friday, February 2nd. They noted that the move was a valuation call. Finally, Piper Jaffray Companies lifted their price target on shares of Redfin from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.73.
The stock has a market capitalization of $1,680.00 and a P/E ratio of -7.66.
A number of institutional investors have recently modified their holdings of the stock. Greylock Xii GP LLC purchased a new position in Redfin in the fourth quarter worth approximately $260,254,000. Jackson Square Partners LLC acquired a new stake in Redfin during the fourth quarter worth approximately $51,927,000. Hillman Co. acquired a new stake in Redfin during the third quarter worth approximately $31,321,000. Dragoneer Investment Group LLC acquired a new stake in Redfin during the third quarter worth approximately $24,242,000. Finally, BlackRock Inc. raised its holdings in Redfin by 1.2% during the fourth quarter. BlackRock Inc. now owns 763,611 shares of the company’s stock worth $23,917,000 after purchasing an additional 8,886 shares in the last quarter. Institutional investors own 52.30% 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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