Redfin (RDFN) – Research Analysts’ Recent Ratings Changes

Redfin (NASDAQ: RDFN) recently received a number of ratings updates from brokerages and research firms:

  • 10/10/2019 – Redfin was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/8/2019 – Redfin was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/8/2019 – Redfin was given a new $23.00 price target on by analysts at Susquehanna Bancshares Inc. They now have a “buy” rating on the stock.
  • 10/8/2019 – Redfin was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $18.00 price target on the stock. According to Zacks, “Redfin Corporation is engaged in providing residential real estate search and brokerage services. The Company provides an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services and originate mortgages. Redfin Corporation is headquartered in Seattle, Washington. “
  • 9/20/2019 – Redfin was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 9/13/2019 – Redfin was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 9/9/2019 – Redfin was given a new $24.00 price target on by analysts at Stephens. They now have a “buy” rating on the stock.
  • 9/4/2019 – Redfin was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/21/2019 – Redfin was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating. They now have a $24.00 price target on the stock.

Shares of RDFN stock opened at $17.59 on Thursday. Redfin Corp has a 52-week low of $13.50 and a 52-week high of $23.47. The stock has a market cap of $1.51 billion, a PE ratio of -35.90 and a beta of 1.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.19 and a current ratio of 3.91. The firm’s 50 day moving average price is $16.71 and its two-hundred day moving average price is $18.21.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Redfin had a negative net margin of 15.47% and a negative return on equity of 25.83%. The firm had revenue of $197.80 million for the quarter, compared to analysts’ expectations of $190.35 million. During the same period last year, the firm earned $0.04 earnings per share. The business’s revenue for the quarter was up 38.7% on a year-over-year basis. As a group, sell-side analysts predict that Redfin Corp will post -0.96 earnings per share for the current fiscal year.

In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $17.09, for a total value of $51,270.00. Following the transaction, the chief financial officer now directly owns 8,542 shares of the company’s stock, valued at $145,982.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adam Wiener sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $17.18, for a total transaction of $85,900.00. Following the completion of the transaction, the insider now directly owns 236,672 shares in the company, valued at $4,066,024.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,250 shares of company stock worth $2,752,534. Insiders own 8.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Redfin by 7.2% during the second quarter. Vanguard Group Inc. now owns 10,440,413 shares of the company’s stock worth $187,718,000 after purchasing an additional 704,587 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Redfin by 21.7% during the second quarter. Baillie Gifford & Co. now owns 5,779,516 shares of the company’s stock worth $103,915,000 after purchasing an additional 1,032,134 shares in the last quarter. BlackRock Inc. boosted its position in shares of Redfin by 9.9% during the second quarter. BlackRock Inc. now owns 5,618,562 shares of the company’s stock worth $101,023,000 after purchasing an additional 504,808 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Redfin by 2.4% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,267,650 shares of the company’s stock worth $22,792,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Redfin by 57.9% during the second quarter. Handelsbanken Fonder AB now owns 995,000 shares of the company’s stock worth $17,890,000 after purchasing an additional 364,799 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

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.

Featured Story: What is operating income?

Receive News & Ratings for Redfin Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redfin Corp and related companies with MarketBeat.com's FREE daily email newsletter.