Redfin (NASDAQ:RDFN) had its target price boosted by analysts at Truist from $84.00 to $102.00 in a research note issued to investors on Tuesday, The Fly reports. Truist’s target price indicates a potential upside of 15.71% from the stock’s previous close.
RDFN has been the subject of a number of other reports. The Goldman Sachs Group raised Redfin from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $41.00 to $78.00 in a report on Friday, February 5th. Bank of America upped their price objective on shares of Redfin from $25.00 to $28.00 and gave the stock an “underperform” rating in a report on Friday, November 6th. Zacks Investment Research cut shares of Redfin from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler upped their price target on shares of Redfin from $58.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 15th. Finally, BTIG Research lowered shares of Redfin from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $58.00.
Redfin stock traded down $6.26 during midday trading on Tuesday, reaching $88.15. 89,235 shares of the stock traded hands, compared to its average volume of 1,448,988. The firm has a fifty day moving average price of $80.47 and a two-hundred day moving average price of $58.41. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of -176.30 and a beta of 1.96. Redfin has a fifty-two week low of $9.63 and a fifty-two week high of $98.44.
Large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in Redfin by 72.6% during the fourth quarter. Principal Financial Group Inc. now owns 25,247 shares of the company’s stock valued at $1,733,000 after purchasing an additional 10,618 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Redfin during the 4th quarter valued at about $6,895,000. Orion Capital Management LLC bought a new stake in shares of Redfin in the 4th quarter valued at approximately $48,000. Capital Advisory Group Advisory Services LLC increased its holdings in Redfin by 5,945.3% in the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 4,534 shares of the company’s stock worth $311,000 after buying an additional 4,459 shares during the last quarter. Finally, Truist Financial Corp raised its position in Redfin by 70.7% during the fourth quarter. Truist Financial Corp now owns 7,761 shares of the company’s stock valued at $532,000 after acquiring an additional 3,214 shares in the last quarter. 83.82% of the stock is owned by institutional investors.
Redfin Company Profile
Redfin Corporation operates as a 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; originates and sells mortgages; and buys and sells homes.
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