Redfin (NASDAQ:RDFN) Price Target Raised to $7.25 at DA Davidson

Redfin (NASDAQ:RDFN) had its price objective hoisted by DA Davidson from $6.75 to $7.25 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also commented on RDFN. Gordon Haskett lowered Redfin from a hold rating to an underperform rating and set a $5.50 price objective on the stock. in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a hold rating on shares of Redfin in a report on Wednesday. Stephens raised Redfin from an equal weight rating to an overweight rating and upped their price objective for the company from $8.00 to $9.00 in a report on Wednesday. Royal Bank of Canada reduced their price objective on Redfin from $10.00 to $9.00 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. Finally, Citigroup reduced their price objective on Redfin from $8.00 to $7.00 and set a neutral rating on the stock in a research note on Wednesday. Two equities research 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. Based on data from MarketBeat.com, Redfin presently has a consensus rating of Hold and an average price target of $8.08.

Redfin Trading Up 8.6 %

Shares of Redfin stock traded up $0.54 during trading on Wednesday, hitting $6.79. 1,763,352 shares of the company were exchanged, compared to its average volume of 5,155,774. The firm has a market capitalization of $811.20 million, a P/E ratio of -5.76 and a beta of 2.68. Redfin has a 1-year low of $4.26 and a 1-year high of $17.68. The firm’s fifty day moving average price is $6.12 and its 200 day moving average price is $7.15. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The business had revenue of $225.50 million during the quarter, compared to analyst estimates of $217.79 million. During the same period in the previous year, the firm earned ($0.93) EPS. Redfin’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that Redfin will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 7,916 shares of the firm’s 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 completion of the transaction, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Christian John Taubman sold 7,916 shares of the firm’s 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 completion of the transaction, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the transaction, the insider now owns 15,477 shares of the company’s stock, valued at $104,934.06. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Redfin

A number of hedge funds have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP boosted its position in shares of Redfin by 342.4% during the third quarter. Dark Forest Capital Management LP now owns 205,033 shares of the company’s stock valued at $1,443,000 after buying an additional 158,690 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Redfin by 89.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 360,212 shares of the company’s stock worth $3,717,000 after acquiring an additional 169,654 shares during the period. Valeo Financial Advisors LLC bought a new stake in Redfin during the fourth quarter worth $206,000. Vanguard Group Inc. lifted its holdings in Redfin by 1.2% during the third quarter. Vanguard Group Inc. now owns 15,977,561 shares of the company’s stock worth $112,482,000 after acquiring an additional 192,162 shares during the period. Finally, Jump Financial LLC lifted its holdings in Redfin by 19.8% during the third quarter. Jump Financial LLC now owns 372,548 shares of the company’s stock worth $2,623,000 after acquiring an additional 61,559 shares during the period. Institutional investors and hedge funds 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.