Redfin Corp (NASDAQ:RDFN) fell 9.2% on Wednesday . The stock traded as low as $28.00 and last traded at $28.20. 739,982 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 631,241 shares. The stock had previously closed at $31.07.
Several research firms have weighed in on RDFN. BidaskClub upgraded shares of Redfin from a “hold” rating to a “buy” rating in a report on Saturday, December 30th. Piper Jaffray Companies assumed coverage on shares of Redfin in a report on Thursday, September 28th. They issued a “neutral” rating and a $26.00 target price on the stock. KeyCorp assumed coverage on shares of Redfin in a report on Tuesday, December 19th. They set a “sector weight” rating on the stock. Oppenheimer dropped their price objective on shares of Redfin from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. Finally, Royal Bank of Canada restated a “hold” rating and set a $28.00 price objective on shares of Redfin in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Redfin has a consensus rating of “Hold” and a consensus target price of $25.20.
The firm has a market capitalization of $2,230.00 and a price-to-earnings ratio of -7.62.
A number of institutional investors have recently added to or reduced their stakes in RDFN. Nationwide Fund Advisors bought a new position in Redfin in the third quarter valued at $285,000. First Trust Advisors LP bought a new position in shares of Redfin in the 3rd quarter valued at about $1,548,000. Baillie Gifford & Co. bought a new position in shares of Redfin in the 3rd quarter valued at about $15,442,000. Advisor Group Inc. bought a new position in shares of Redfin in the 3rd quarter valued at about $129,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Redfin in the 3rd quarter valued at about $832,000. 37.88% of the stock is owned by institutional investors and hedge funds.
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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