Redfin Co. (NASDAQ:RDFN) Receives $8.08 Consensus PT from Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have received a consensus rating of “Reduce” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.08.

A number of analysts recently weighed in on RDFN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Thursday, May 16th. Stephens upgraded Redfin from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $8.00 to $9.00 in a research note on Wednesday, May 8th. Citigroup dropped their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Susquehanna upped their price target on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Finally, DA Davidson lifted their price objective on shares of Redfin from $6.75 to $7.25 and gave the company a “neutral” rating in a research note on Wednesday, May 8th.

Insider Transactions at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $6.96, for a total transaction of $25,278.72. Following the transaction, the insider now directly owns 57,274 shares in the company, valued at approximately $398,627.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

A number of institutional investors have recently modified their holdings of RDFN. Vanguard Group Inc. increased its holdings in shares of Redfin by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock valued at $127,623,000 after acquiring an additional 1,953,127 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Redfin by 25.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after purchasing an additional 445,486 shares during the period. Trexquant Investment LP increased its stake in Redfin by 208.8% during the fourth quarter. Trexquant Investment LP now owns 617,880 shares of the company’s stock valued at $6,377,000 after purchasing an additional 417,811 shares during the last quarter. HST Ventures LLC acquired a new stake in shares of Redfin during the fourth quarter worth $4,086,000. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Redfin by 144.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 499,577 shares of the company’s stock valued at $3,517,000 after buying an additional 294,802 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Stock Down 2.7 %

Shares of NASDAQ:RDFN opened at $5.85 on Thursday. The stock has a 50-day simple moving average of $6.34 and a 200-day simple moving average of $7.16. The stock has a market capitalization of $698.91 million, a P/E ratio of -4.92 and a beta of 2.67. 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 1.33 and a current ratio of 1.33.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.01. Redfin had a negative net margin of 13.76% and a negative return on equity of 1,780.89%. The firm had revenue of $225.50 million for the quarter, compared to analysts’ expectations of $217.79 million. During the same period in the previous year, the company posted ($0.93) earnings per share. Redfin’s revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Redfin will post -1.11 earnings per share for the current year.

About Redfin

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.