Redfin (NASDAQ:RDFN) Rating Reiterated by DA Davidson

DA Davidson reissued their neutral rating on shares of Redfin (NASDAQ:RDFN) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $7.25 price objective on the stock.

Other equities analysts have also issued reports about the stock. Susquehanna raised their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a neutral rating in a research report on Monday, May 13th. Wedbush restated a neutral rating and set a $8.00 price target on shares of Redfin in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a hold rating on shares of Redfin in a report on Thursday, May 16th. Citigroup cut their price objective on Redfin from $8.00 to $7.00 and set a neutral rating for the company in a report on Wednesday, May 8th. Finally, Stephens upgraded shares of Redfin from an equal weight rating to an overweight rating and lifted their target price for the company from $8.00 to $9.00 in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $8.08.

Redfin Price Performance

RDFN opened at $5.96 on Wednesday. The company has a market capitalization of $712.04 million, a price-to-earnings ratio of -5.01 and a beta of 2.66. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 295.91. The firm has a 50-day moving average price of $6.36 and a 200-day moving average price of $7.12. Redfin has a twelve month low of $4.26 and a twelve month high of $17.68.

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

Insider Transactions at Redfin

In related news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $6.96, for a total value of $25,278.72. Following the transaction, the insider now owns 57,274 shares in the company, valued at approximately $398,627.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Large investors have recently bought and sold shares of the stock. ProShare Advisors LLC grew its holdings in shares of Redfin by 9.8% in the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock worth $132,000 after purchasing an additional 1,766 shares during the last quarter. Principal Financial Group Inc. boosted its position in Redfin by 17.7% during the 1st quarter. Principal Financial Group Inc. now owns 14,872 shares of the company’s stock valued at $99,000 after buying an additional 2,241 shares during the period. Swiss National Bank grew its holdings in Redfin by 1.3% in the 1st quarter. Swiss National Bank now owns 227,500 shares of the company’s stock worth $1,513,000 after acquiring an additional 2,900 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Redfin by 24.9% in the fourth quarter. Victory Capital Management Inc. now owns 14,856 shares of the company’s stock valued at $153,000 after acquiring an additional 2,957 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Redfin by 205.8% during the first 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. 61.07% of the stock is owned by hedge funds and other institutional investors.

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.