Redfin (NASDAQ:RDFN) has been assigned an average recommendation of “Hold” from the fifteen analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $26.00.
Several research firms have weighed in on RDFN. BidaskClub lowered shares of Redfin from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. William Blair restated an “outperform” rating on shares of Redfin in a research note on Thursday, February 1st. Jefferies Group assumed coverage on shares of Redfin in a research note on Tuesday, February 6th. They set a “buy” rating and a $28.00 price target on the stock. Royal Bank of Canada upgraded shares of Redfin from a “sector perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research note on Friday, February 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Redfin from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th.
Redfin stock opened at $22.03 on Wednesday. Redfin has a twelve month low of $19.18 and a twelve month high of $33.49.
Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $95.80 million during the quarter, compared to analyst estimates of $91.59 million. The company’s revenue was up 43.4% on a year-over-year basis. research analysts forecast that Redfin will post -0.2 EPS for the current year.
In related news, CFO Christopher John Nielsen sold 25,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $20.51, for a total transaction of $512,750.00. Following the completion of the sale, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at approximately $512,750. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adam Wiener sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.82, for a total transaction of $208,200.00. Following the sale, the insider now directly owns 299,649 shares of the company’s stock, valued at $6,238,692.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,000 shares of company stock worth $1,388,550.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Redfin during the 3rd quarter worth $139,000. MetLife Investment Advisors LLC bought a new stake in shares of Redfin during the 4th quarter worth $155,000. Wells Fargo & Company MN bought a new stake in shares of Redfin during the 3rd quarter worth $158,000. American International Group Inc. bought a new stake in shares of Redfin during the 3rd quarter worth $181,000. Finally, Needham Investment Management LLC bought a new stake in shares of Redfin during the 4th quarter worth $224,000. 52.44% of the stock is owned by institutional investors and hedge funds.
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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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