Redfin (NASDAQ:RDFN) Trading Down 5.6%

Redfin Co. (NASDAQ:RDFN) was down 5.6% on Monday . The stock traded as low as $13.55 and last traded at $13.64. Approximately 5,436,986 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 5,333,313 shares. The stock had previously closed at $14.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RDFN shares. DA Davidson reiterated a “neutral” rating and set a $7.25 target price on shares of Redfin in a report on Wednesday, July 3rd. Wedbush reiterated a “neutral” rating and set a $8.00 target price on shares of Redfin in a report on Wednesday, August 7th. B. Riley upgraded Redfin from a “neutral” rating to a “buy” rating and increased their target price for the company from $7.50 to $13.00 in a report on Tuesday, September 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Redfin presently has an average rating of “Hold” and an average price target of $7.68.

Redfin Stock Down 2.2 %

The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -11.85 and a beta of 2.66. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 295.91. The stock has a fifty day moving average of $8.90 and a two-hundred day moving average of $7.19.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.03. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The company had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. During the same period last year, the company posted ($0.25) earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Redfin Co. will post -1.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the transaction, the insider now owns 71,720 shares in the company, valued at $663,410. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Trading of Redfin

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Redfin by 11.3% during the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock valued at $127,623,000 after purchasing an additional 1,953,127 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock valued at $14,450,000 after purchasing an additional 445,486 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of 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. Assenagon Asset Management S.A. grew its holdings in shares of Redfin by 695.2% during the second quarter. Assenagon Asset Management S.A. now owns 351,612 shares of the company’s stock valued at $2,113,000 after purchasing an additional 307,396 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Redfin by 135.7% during the first quarter. Manchester Capital Management LLC now owns 144,118 shares of the company’s stock valued at $958,000 after purchasing an additional 82,965 shares during the last quarter. 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.