Redfin Corp (NASDAQ:RDFN) – Analysts at William Blair dropped their Q3 2020 EPS estimates for shares of Redfin in a research report issued on Thursday, November 7th. William Blair analyst S. Sheldon now forecasts that the company will earn $0.14 per share for the quarter, down from their prior estimate of $0.15.
Other analysts have also recently issued research reports about the stock. Compass Point raised shares of Redfin from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Friday, August 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $24.00 target price on shares of Redfin in a research note on Monday, November 4th. BidaskClub raised shares of Redfin from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Stephens set a $24.00 price objective on shares of Redfin and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, DA Davidson set a $17.50 price objective on shares of Redfin and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Redfin has an average rating of “Buy” and an average price target of $23.18.
Redfin stock opened at $20.19 on Friday. The stock has a 50-day simple moving average of $17.22 and a 200 day simple moving average of $17.75. The stock has a market capitalization of $1.73 billion, a P/E ratio of -41.20 and a beta of 1.38. Redfin has a 52 week low of $13.50 and a 52 week high of $23.47. 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 (NASDAQ:RDFN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Redfin had a negative return on equity of 25.83% and a negative net margin of 15.47%. The business had revenue of $238.68 million during the quarter, compared to analysts’ expectations of $229.94 million. During the same quarter last year, the company posted $0.14 earnings per share. Redfin’s quarterly revenue was up 70.2% on a year-over-year basis.
Several institutional investors and hedge funds have recently bought and sold shares of RDFN. Nisa Investment Advisors LLC purchased a new stake in Redfin in the 3rd quarter valued at about $25,000. Tower Research Capital LLC TRC purchased a new stake in Redfin in the 3rd quarter valued at about $25,000. NumerixS Investment Technologies Inc purchased a new stake in Redfin in the 2nd quarter valued at about $49,000. Usca Ria LLC purchased a new stake in Redfin in the 3rd quarter valued at about $51,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Redfin by 28.8% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,646 shares of the company’s stock valued at $61,000 after buying an additional 815 shares during the last quarter. Institutional investors own 88.98% of the company’s stock.
In related news, CTO Bridget Frey sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $18.00, for a total value of $90,000.00. Following the sale, the chief technology officer now owns 69,796 shares in the company, valued at approximately $1,256,328. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher John Nielsen sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $17.09, for a total transaction of $51,270.00. Following the completion of the sale, the chief financial officer now owns 8,542 shares in the company, valued at approximately $145,982.78. The disclosure for this sale can be found here. Insiders have sold 150,250 shares of company stock worth $2,636,734 in the last quarter. Company insiders own 8.20% of the company’s stock.
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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