Shares of Redfin Co. (NASDAQ:RDFN – Get Rating) have been assigned an average recommendation of “Hold” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.79.
RDFN has been the topic of several recent research reports. The Goldman Sachs Group lowered their price target on shares of Redfin from $9.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 18th. Susquehanna Bancshares lowered their price target on shares of Redfin to $4.50 in a report on Wednesday, November 16th. Evercore ISI lowered their price target on shares of Redfin to $5.00 in a report on Tuesday, November 15th. Jefferies Financial Group lowered their price target on shares of Redfin from $12.00 to $6.50 and set a “hold” rating on the stock in a report on Thursday, October 6th. Finally, Stifel Nicolaus lowered their price target on shares of Redfin from $10.00 to $9.00 in a report on Monday, August 8th.
Redfin Price Performance
Shares of RDFN opened at $5.00 on Wednesday. The firm has a market capitalization of $543.75 million, a PE ratio of -1.86 and a beta of 1.83. The company has a debt-to-equity ratio of 11.34, a current ratio of 1.89 and a quick ratio of 1.43. Redfin has a 1-year low of $3.08 and a 1-year high of $42.99. The company’s fifty day moving average price is $4.89 and its 200-day moving average price is $7.78.
Redfin (NASDAQ:RDFN – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.02. Redfin had a negative net margin of 11.69% and a negative return on equity of 135.08%. The firm had revenue of $600.52 million for the quarter, compared to analyst estimates of $601.69 million. On average, equities research analysts predict that Redfin will post -3.39 EPS for the current year.
Insider Transactions at Redfin
In other news, Director James Slavet bought 6,667 shares of the stock in a transaction dated Monday, October 3rd. The shares were acquired at an average cost of $5.81 per share, with a total value of $38,735.27. Following the purchase, the director now directly owns 209,213 shares in the company, valued at approximately $1,215,527.53. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Anthony Ray Kappus sold 21,675 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $6.17, for a total transaction of $133,734.75. Following the completion of the transaction, the insider now owns 12,399 shares in the company, valued at approximately $76,501.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Slavet purchased 6,667 shares of Redfin stock in a transaction that occurred on Monday, October 3rd. The shares were bought at an average price of $5.81 per share, with a total value of $38,735.27. Following the transaction, the director now owns 209,213 shares in the company, valued at $1,215,527.53. The disclosure for this purchase can be found here. Insiders have sold a total of 33,006 shares of company stock valued at $199,771 in the last ninety days. 5.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB raised its position in shares of Redfin by 22.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 17,000 shares of the company’s stock worth $140,000 after purchasing an additional 3,100 shares during the last quarter. HST Ventures LLC raised its position in shares of Redfin by 58.0% during the 2nd quarter. HST Ventures LLC now owns 750,546 shares of the company’s stock worth $6,184,000 after purchasing an additional 275,506 shares during the last quarter. Trexquant Investment LP acquired a new stake in Redfin in the 2nd quarter valued at about $417,000. Russell Investments Group Ltd. raised its holdings in Redfin by 318.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 232,937 shares of the company’s stock valued at $1,918,000 after acquiring an additional 177,241 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Redfin in the 1st quarter valued at about $3,168,000. Institutional investors and hedge funds own 90.79% 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; originates and sells mortgages; and buys and sells homes.