Redfin (NASDAQ:RDFN) had its price objective hoisted by Stifel Nicolaus from $18.00 to $20.00 in a report issued on Friday, BenzingaRatingsTable reports. Stifel Nicolaus currently has a hold rating on the stock.
RDFN has been the subject of a number of other research reports. DA Davidson set a $16.00 price target on Redfin and gave the stock a hold rating in a report on Tuesday, July 2nd. ValuEngine upgraded Redfin from a hold rating to a buy rating in a report on Thursday. Compass Point upgraded Redfin from a neutral rating to a buy rating in a report on Friday. SunTrust Banks started coverage on Redfin in a report on Tuesday, July 9th. They set a buy rating and a $23.00 price objective for the company. Finally, BidaskClub cut Redfin from a buy rating to a hold rating in a report on Friday, May 10th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Redfin has a consensus rating of Hold and a consensus target price of $22.53.
Redfin stock traded up $1.94 during midday trading on Friday, reaching $19.66. 3,818,809 shares of the company’s stock were exchanged, compared to its average volume of 793,243. Redfin has a 52 week low of $13.50 and a 52 week high of $24.37. The company has a current ratio of 4.73, a quick ratio of 4.36 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -40.12 and a beta of 1.36. The firm has a 50-day moving average price of $17.86.
Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. The business had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $190.35 million. During the same quarter last year, the company posted $0.04 earnings per share. Redfin’s quarterly revenue was up 38.7% on a year-over-year basis. On average, sell-side analysts expect that Redfin will post -0.96 earnings per share for the current year.
In related news, insider Adam Wiener sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $18.03, for a total value of $90,150.00. Following the completion of the sale, the insider now directly owns 255,503 shares in the company, valued at $4,606,719.09. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher John Nielsen sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $17.35, for a total value of $52,050.00. Following the completion of the sale, the chief financial officer now owns 8,542 shares of the company’s stock, valued at $148,203.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,000 shares of company stock valued at $391,100. 8.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of RDFN. Penserra Capital Management LLC bought a new stake in shares of Redfin in the first quarter valued at approximately $25,000. FNY Investment Advisers LLC acquired a new position in Redfin during the first quarter valued at approximately $36,000. Edge Wealth Management LLC acquired a new position in Redfin during the first quarter valued at approximately $45,000. Aperio Group LLC acquired a new position in Redfin during the second quarter valued at approximately $96,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Redfin by 148.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,579 shares of the company’s stock valued at $118,000 after purchasing an additional 3,932 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.
Redfin Company Profile
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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