Redfin (NASDAQ:RDFN) PT Lowered to $7.00 at Citigroup

Redfin (NASDAQ:RDFN) had its target price decreased by stock analysts at Citigroup from $8.00 to $7.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 12.54% from the stock’s previous close.

RDFN has been the topic of several other reports. Gordon Haskett lowered shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price target on the stock. in a research report on Thursday, February 29th. DA Davidson reiterated a “neutral” rating and issued a $6.75 target price on shares of Redfin in a research note on Friday, March 22nd. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Wednesday. Royal Bank of Canada reduced their target price on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Finally, Wedbush restated a “neutral” rating and issued a $8.00 price target on shares of Redfin in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.03.

Redfin Trading Down 2.4 %

RDFN stock traded down $0.15 during trading on Wednesday, hitting $6.22. The company had a trading volume of 6,216,504 shares, compared to its average volume of 5,190,493. The stock has a market cap of $743.10 million, a price-to-earnings ratio of -5.32 and a beta of 2.68. Redfin has a 12 month low of $4.26 and a 12 month high of $17.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91. The firm has a 50-day moving average price of $6.14 and a 200-day moving average price of $7.16.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) 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 $225.50 million for the quarter, compared to the consensus estimate of $217.79 million. During the same period last year, the company earned ($0.93) earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts predict that Redfin will post -1.31 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RDFN. DekaBank Deutsche Girozentrale acquired a new position in Redfin during the 3rd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock valued at $31,000 after acquiring an additional 3,101 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Redfin during the 1st quarter valued at $66,000. First Trust Direct Indexing L.P. bought a new stake in Redfin during the 1st quarter worth $72,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Redfin during the third quarter valued at about $82,000. Institutional investors own 61.07% of the company’s stock.

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.