Redfin (NASDAQ:RDFN) received a $17.50 price objective from stock analysts at DA Davidson in a research note issued on Tuesday, TipRanks reports. The brokerage presently has a “hold” rating on the stock. DA Davidson’s target price would indicate a potential downside of 3.26% from the stock’s current price.
Other analysts also recently issued research reports about the company. Stephens set a $24.00 price objective on Redfin and gave the stock a “buy” rating in a research note on Monday, September 9th. Stifel Nicolaus lifted their price objective on Redfin from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Cowen set a $24.00 price objective on Redfin and gave the stock a “buy” rating in a research note on Friday, June 21st. Compass Point raised Redfin from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Friday, August 2nd. Finally, SunTrust Banks began coverage on Redfin in a research note on Tuesday, July 9th. They issued a “buy” rating and a $23.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Redfin has an average rating of “Hold” and an average target price of $22.82.
NASDAQ:RDFN traded up $0.50 during trading hours on Tuesday, reaching $18.09. The stock had a trading volume of 620,220 shares, compared to its average volume of 928,695. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.19 and a current ratio of 3.91. Redfin has a 52 week low of $13.50 and a 52 week high of $23.47. The company has a 50 day moving average price of $16.71 and a two-hundred day moving average price of $18.21. The stock has a market capitalization of $1.49 billion, a PE ratio of -36.92 and a beta of 1.37.
Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.01. Redfin had a negative return on equity of 25.83% and a negative net margin of 15.47%. The business had revenue of $197.80 million for the quarter, compared to the consensus estimate of $190.35 million. During the same quarter in the previous year, the company posted $0.04 EPS. The company’s revenue was up 38.7% compared to the same quarter last year. Equities research analysts predict that Redfin will post -0.96 EPS for the current year.
In other news, CFO Christopher John Nielsen sold 3,000 shares of Redfin stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $16.57, for a total value of $49,710.00. Following the completion of the transaction, the chief financial officer now owns 9,924 shares in the company, valued at approximately $164,440.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Adam Wiener sold 5,000 shares of Redfin stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $17.18, for a total value of $85,900.00. Following the completion of the transaction, the insider now owns 236,672 shares of the company’s stock, valued at approximately $4,066,024.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,250 shares of company stock valued at $2,752,534. Company insiders own 8.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RFG Advisory LLC boosted its holdings in Redfin by 8.1% during the 2nd quarter. RFG Advisory LLC now owns 11,363 shares of the company’s stock valued at $203,000 after acquiring an additional 850 shares during the period. Nisa Investment Advisors LLC purchased a new position in Redfin during the 3rd quarter valued at $25,000. UBS Asset Management Americas Inc. boosted its holdings in Redfin by 3.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 50,601 shares of the company’s stock valued at $910,000 after acquiring an additional 1,730 shares during the period. First Republic Investment Management Inc. boosted its holdings in Redfin by 7.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 24,261 shares of the company’s stock valued at $436,000 after acquiring an additional 1,761 shares during the period. Finally, Edge Wealth Management LLC boosted its holdings in Redfin by 90.9% during the 2nd quarter. Edge Wealth Management LLC now owns 4,200 shares of the company’s stock valued at $76,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 88.64% of the company’s stock.
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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