Other equities analysts also recently issued research reports about the company. BidaskClub raised Redfin from a hold rating to a buy rating in a research report on Tuesday, December 11th. Zacks Investment Research raised Redfin from a hold rating to a buy rating and set a $18.00 price objective on the stock in a research report on Saturday, January 12th. Compass Point began coverage on Redfin in a research report on Thursday, January 24th. They issued a buy rating and a $20.50 price objective on the stock. ValuEngine raised Redfin from a hold rating to a buy rating in a research report on Thursday, January 31st. Finally, Needham & Company LLC assumed coverage on Redfin in a report on Tuesday, January 8th. They issued a hold rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $20.13.
Shares of Redfin stock traded up $0.03 during trading hours on Monday, reaching $20.00. 1,845,197 shares of the stock traded hands, compared to its average volume of 1,060,313. The company has a quick ratio of 10.25, a current ratio of 10.74 and a debt-to-equity ratio of 0.31. Redfin has a one year low of $13.50 and a one year high of $26.01. The company has a market cap of $1.78 billion, a P/E ratio of -40.82 and a beta of 0.84.
Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Thursday, February 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The business had revenue of $124.10 million for the quarter, compared to analysts’ expectations of $117.15 million. Redfin had a negative return on equity of 14.24% and a negative net margin of 8.62%. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS. Research analysts anticipate that Redfin will post -0.88 EPS for the current fiscal year.
In other Redfin news, Director Selina Tobaccowala sold 1,710 shares of the stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $18.00, for a total value of $30,780.00. Following the completion of the sale, the director now directly owns 17,302 shares in the company, valued at $311,436. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Christopher John Nielsen sold 3,000 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $19.64, for a total value of $58,920.00. Following the completion of the transaction, the chief financial officer now directly owns 3,000 shares in the company, valued at $58,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,850 shares of company stock valued at $1,015,088. 8.80% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in RDFN. BBT Capital Management LLC grew its holdings in Redfin by 17.4% during the third quarter. BBT Capital Management LLC now owns 135,000 shares of the company’s stock worth $2,525,000 after acquiring an additional 20,000 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Redfin during the third quarter worth about $655,000. SG Americas Securities LLC acquired a new stake in Redfin during the third quarter worth about $284,000. BlackRock Inc. grew its holdings in Redfin by 33.8% during the third quarter. BlackRock Inc. now owns 4,953,847 shares of the company’s stock worth $92,637,000 after acquiring an additional 1,251,210 shares during the period. Finally, Cowen Prime Services LLC grew its holdings in Redfin by 5,625.0% during the third quarter. Cowen Prime Services LLC now owns 114,500 shares of the company’s stock worth $2,141,000 after acquiring an additional 112,500 shares during the period. 93.22% of the stock is currently 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, such as assisting individuals to 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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