BTIG Research reiterated their buy rating on shares of Redfin (NASDAQ:RDFN) in a report issued on Friday morning, TipRanks reports. BTIG Research currently has a $44.00 target price on the stock.
A number of other equities analysts have also recently commented on RDFN. SunTrust Banks lifted their price objective on shares of Redfin from $30.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, June 25th. ValuEngine upgraded shares of Redfin from a hold rating to a buy rating in a research note on Thursday, April 2nd. KeyCorp started coverage on shares of Redfin in a research report on Friday, February 28th. They set a sector weight rating for the company. Goldman Sachs Group boosted their price objective on Redfin from $16.00 to $23.00 and gave the stock a sell rating in a report on Friday, March 27th. Finally, Oppenheimer reiterated a buy rating and set a $27.00 target price on shares of Redfin in a research note on Friday, May 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $28.75.
Redfin stock opened at $38.80 on Friday. Redfin has a fifty-two week low of $9.63 and a fifty-two week high of $41.31. The firm has a market capitalization of $3.85 billion, a PE ratio of -49.11 and a beta of 1.99. The company’s 50-day moving average is $31.65 and its 200-day moving average is $24.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.36 and a quick ratio of 2.84.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.11. Redfin had a negative return on equity of 23.57% and a negative net margin of 8.57%. The firm had revenue of $191.00 million for the quarter, compared to the consensus estimate of $178.77 million. During the same quarter in the previous year, the business earned ($0.74) earnings per share. The business’s revenue was up 73.5% compared to the same quarter last year. As a group, analysts expect that Redfin will post -0.99 EPS for the current year.
In related news, insider Adam Wiener sold 6,549 shares of Redfin stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $31.50, for a total value of $206,293.50. Following the transaction, the insider now directly owns 282,770 shares of the company’s stock, valued at $8,907,255. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Bridget Frey sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $18.00, for a total transaction of $90,000.00. Following the transaction, the chief technology officer now owns 72,472 shares of the company’s stock, valued at $1,304,496. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,549 shares of company stock worth $2,396,724. 7.30% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of RDFN. Public Employees Retirement Association of Colorado lifted its position in shares of Redfin by 63.7% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 12,149 shares of the company’s stock worth $187,000 after buying an additional 4,727 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in Redfin during the first quarter worth about $265,000. AQR Capital Management LLC lifted its holdings in shares of Redfin by 514.0% in the first quarter. AQR Capital Management LLC now owns 58,133 shares of the company’s stock worth $896,000 after acquiring an additional 48,665 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Redfin in the first quarter worth about $797,000. Finally, Invesco Ltd. boosted its stake in shares of Redfin by 29.1% in the 1st quarter. Invesco Ltd. now owns 24,948 shares of the company’s stock valued at $385,000 after purchasing an additional 5,618 shares in the last quarter. 88.62% of the stock is owned by institutional investors.
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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