Shares of Redfin Co. (NASDAQ:RDFN – Get Rating) have been assigned an average rating of “Hold” from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.31.
Several research firms recently weighed in on RDFN. Truist Financial cut shares of Redfin from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $10.00 to $5.50 in a research report on Wednesday, December 21st. DA Davidson cut their target price on Redfin from $9.50 to $5.50 in a research note on Friday, November 25th. Evercore ISI cut their target price on Redfin to $5.00 in a research note on Tuesday, November 15th. Compass Point lowered Redfin from a “neutral” rating to a “sell” rating in a research note on Thursday, November 10th. Finally, Citigroup assumed coverage on Redfin in a research note on Tuesday, December 13th. They set a “neutral” rating and a $5.00 price objective for the company.
Redfin Trading Down 8.7 %
Shares of RDFN opened at $5.75 on Thursday. The business’s 50-day moving average price is $4.98 and its 200-day moving average price is $6.65. Redfin has a twelve month low of $3.08 and a twelve month high of $32.42. The stock has a market cap of $625.31 million, a PE ratio of -2.14 and a beta of 1.87. The company has a quick ratio of 1.43, a current ratio of 1.89 and a debt-to-equity ratio of 11.34.
Redfin (NASDAQ:RDFN – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.02. The firm had revenue of $600.52 million for the quarter, compared to analysts’ expectations of $601.69 million. Redfin had a negative return on equity of 135.08% and a negative net margin of 11.69%. On average, equities analysts forecast that Redfin will post -3.45 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Christian John Taubman sold 11,104 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $4.99, for a total transaction of $55,408.96. Following the completion of the transaction, the insider now directly owns 34,338 shares in the company, valued at $171,346.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Redfin
Several large investors have recently bought and sold shares of RDFN. AlphaCrest Capital Management LLC bought a new stake in Redfin in the 1st quarter worth about $436,000. Bank of Montreal Can increased its holdings in Redfin by 207.7% in the 1st quarter. Bank of Montreal Can now owns 18,905 shares of the company’s stock worth $357,000 after buying an additional 12,762 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Redfin by 55.8% in the 1st quarter. MetLife Investment Management LLC now owns 55,652 shares of the company’s stock worth $1,004,000 after buying an additional 19,937 shares in the last quarter. Rhumbline Advisers increased its holdings in Redfin by 1.9% in the 1st quarter. Rhumbline Advisers now owns 113,151 shares of the company’s stock worth $2,041,000 after buying an additional 2,083 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Redfin by 2.5% in the first quarter. Brown Brothers Harriman & Co. now owns 41,236 shares of the company’s stock worth $744,000 after purchasing an additional 1,000 shares during the last quarter. 81.81% of the stock is currently owned by 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; originates and sells mortgages; and buys and sells homes.