A number of other research analysts have also weighed in on the stock. Bank of America raised their target price on shares of Redfin from $25.00 to $28.00 and gave the stock an underperform rating in a research note on Friday, November 6th. Zacks Investment Research downgraded shares of Redfin from a buy rating to a hold rating in a report on Tuesday, December 15th. Wedbush raised their price target on shares of Redfin from $48.00 to $62.00 in a report on Thursday, October 15th. DA Davidson raised their price target on shares of Redfin from $47.00 to $54.00 and gave the stock a buy rating in a report on Thursday, September 24th. Finally, Wolfe Research began coverage on shares of Redfin in a report on Friday, November 6th. They set an outperform rating for the company. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $49.67.
RDFN opened at $76.51 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.21 and a quick ratio of 4.14. The company’s 50 day simple moving average is $61.10 and its two-hundred day simple moving average is $48.86. Redfin has a 1-year low of $9.63 and a 1-year high of $83.71. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of -104.81 and a beta of 1.90.
Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 5th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. Redfin had a negative net margin of 7.73% and a negative return on equity of 20.93%. The business had revenue of $236.92 million for the quarter, compared to analyst estimates of $216.52 million. During the same period last year, the company posted $0.07 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, equities analysts anticipate that Redfin will post -0.46 earnings per share for the current fiscal year.
In other Redfin news, CEO Glenn Kelman sold 60,000 shares of the business’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $40.95, for a total value of $2,457,000.00. Also, insider Adam Wiener sold 32,500 shares of the business’s stock in a transaction on Monday, January 4th. The stock was sold at an average price of $67.45, for a total transaction of $2,192,125.00. Following the completion of the transaction, the insider now owns 308,009 shares of the company’s stock, valued at approximately $20,775,207.05. The disclosure for this sale can be found here. Insiders sold a total of 113,321 shares of company stock valued at $5,840,912 in the last quarter. 8.20% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. American International Group Inc. grew its stake in shares of Redfin by 10.7% in the second quarter. American International Group Inc. now owns 58,688 shares of the company’s stock worth $2,460,000 after acquiring an additional 5,691 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Redfin by 13.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 605,492 shares of the company’s stock worth $25,377,000 after acquiring an additional 70,681 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its stake in shares of Redfin by 2.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 80,117 shares of the company’s stock worth $3,358,000 after acquiring an additional 2,084 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Redfin by 3.3% during the 3rd quarter. California Public Employees Retirement System now owns 220,109 shares of the company’s stock worth $10,990,000 after purchasing an additional 7,100 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Redfin by 13.1% during the 2nd quarter. Vanguard Group Inc. now owns 11,995,447 shares of the company’s stock worth $502,729,000 after purchasing an additional 1,390,802 shares during the last quarter. Institutional investors and hedge funds own 89.59% of the company’s stock.
Redfin Company Profile
Redfin Corporation operates as a 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.
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