Analysts Set Redfin Co. (NASDAQ:RDFN) Price Target at $7.92

Shares of Redfin Co. (NASDAQ:RDFN) have been given an average rating of “Reduce” by the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $7.92.

Several analysts have recently weighed in on RDFN shares. Royal Bank of Canada lowered their target price on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Gordon Haskett downgraded shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price on the stock. in a report on Thursday, February 29th. Citigroup lowered their target price on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Wedbush reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Redfin in a report on Wednesday, February 28th. Finally, DA Davidson reiterated a “neutral” rating and issued a $6.75 price objective on shares of Redfin in a research note on Friday, March 22nd.

Insiders Place Their Bets

In other Redfin news, insider Anna Stevens sold 10,851 shares of Redfin stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the transaction, the insider now owns 15,477 shares in the company, valued at $104,934.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Redfin news, insider Anna Stevens sold 10,851 shares of Redfin stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the transaction, the insider now owns 15,477 shares in the company, valued at $104,934.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the transaction, the insider now owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redfin

A number of institutional investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. raised its position in shares of Redfin by 2.5% in the first quarter. Brown Brothers Harriman & Co. now owns 41,236 shares of the company’s stock valued at $744,000 after buying an additional 1,000 shares during the last quarter. First Trust Advisors LP raised its position in shares of Redfin by 8.3% in the first quarter. First Trust Advisors LP now owns 16,522 shares of the company’s stock valued at $298,000 after buying an additional 1,270 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Redfin by 12.6% in the fourth quarter. Principal Financial Group Inc. now owns 12,631 shares of the company’s stock valued at $130,000 after buying an additional 1,411 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Redfin by 4.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 43,255 shares of the company’s stock valued at $183,000 after buying an additional 1,830 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Redfin by 1.9% in the first quarter. Rhumbline Advisers now owns 113,151 shares of the company’s stock valued at $2,041,000 after buying an additional 2,083 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Trading Down 2.1 %

Shares of Redfin stock opened at $5.20 on Friday. Redfin has a 1 year low of $4.26 and a 1 year high of $17.68. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $620.05 million, a P/E ratio of -4.44 and a beta of 2.66. The company’s fifty day moving average is $6.49 and its two-hundred day moving average is $7.18.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The company had revenue of $218.08 million for the quarter, compared to the consensus estimate of $220.32 million. During the same period last year, the firm posted ($0.83) EPS. Redfin’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts forecast that Redfin will post -1.31 earnings per share for the current year.

Redfin Company Profile

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.