Redfin Corp (NASDAQ:RDFN) CTO Bridget Frey sold 5,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $42.51, for a total transaction of $212,550.00. Following the transaction, the chief technology officer now owns 107,577 shares in the company, valued at $4,573,098.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of RDFN opened at $40.13 on Friday. The company has a 50 day moving average of $35.37 and a two-hundred day moving average of $25.43. The company has a market cap of $4.13 billion, a price-to-earnings ratio of -50.80 and a beta of 2.04. Redfin Corp has a twelve month low of $9.63 and a twelve month high of $43.90. The company has a quick ratio of 2.84, a current ratio of 3.36 and a debt-to-equity ratio of 0.64.
Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.75) by $0.11. The business had revenue of $191.00 million during the quarter, compared to analysts’ expectations of $178.77 million. Redfin had a negative net margin of 8.57% and a negative return on equity of 23.57%. The business’s quarterly revenue was up 73.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.74) earnings per share. On average, sell-side analysts expect that Redfin Corp will post -0.99 EPS for the current year.
A number of equities analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $44.00 price objective on shares of Redfin in a research note on Friday, June 26th. Goldman Sachs Group increased their price objective on shares of Redfin from $16.00 to $23.00 and gave the company a “sell” rating in a research note on Friday, March 27th. Wedbush dropped their price objective on shares of Redfin from $31.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 18th. Stephens increased their price objective on shares of Redfin from $19.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, DA Davidson increased their price objective on shares of Redfin from $27.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $29.75.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. purchased a new position in shares of Redfin in the first quarter worth $30,000. NumerixS Investment Technologies Inc raised its holdings in shares of Redfin by 119.1% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,410 shares of the company’s stock worth $51,000 after buying an additional 1,310 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Redfin by 1,772.9% in the first quarter. PNC Financial Services Group Inc. now owns 3,184 shares of the company’s stock worth $49,000 after buying an additional 3,014 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of Redfin by 368.0% in the first quarter. Arkadios Wealth Advisors now owns 3,791 shares of the company’s stock worth $58,000 after buying an additional 2,981 shares during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in shares of Redfin by 53.5% in the fourth quarter. Penserra Capital Management LLC now owns 3,792 shares of the company’s stock worth $93,000 after buying an additional 1,322 shares during the last quarter. 88.62% of the stock is owned by institutional investors and hedge funds.
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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