Redfin (NASDAQ:RDFN) Upgraded to “Overweight” at Stephens

Stephens upgraded shares of Redfin (NASDAQ:RDFN) from an equal weight rating to an overweight rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $9.00 price target on the stock, up from their prior price target of $8.00.

Other research analysts have also issued research reports about the company. DA Davidson reaffirmed a neutral rating and set a $6.75 target price on shares of Redfin in a report on Friday, March 22nd. Wedbush reiterated a neutral rating and set a $8.00 price target on shares of Redfin in a research report on Wednesday, February 28th. Gordon Haskett downgraded Redfin from a hold rating to an underperform rating and set a $5.50 price target for the company. in a research report on Thursday, February 29th. Royal Bank of Canada dropped their price target on Redfin from $10.00 to $9.00 and set a sector perform rating for the company in a research report on Wednesday, February 28th. Finally, Citigroup dropped their price target on Redfin from $10.50 to $8.00 and set a neutral rating for the company in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $8.03.

Redfin Trading Down 1.9 %

NASDAQ RDFN opened at $6.25 on Wednesday. The stock has a market capitalization of $746.69 million, a price-to-earnings ratio of -5.34 and a beta of 2.68. Redfin has a one year low of $4.26 and a one year high of $17.68. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66. The business’s fifty day moving average is $6.12 and its 200-day moving average is $7.15.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The company had revenue of $225.50 million during the quarter, compared to analyst estimates of $217.79 million. During the same quarter last year, the firm posted ($0.93) EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts predict that Redfin will post -1.31 EPS for the current year.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 7,916 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the transaction, the insider now directly owns 52,117 shares of the company’s stock, valued at $359,607.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Anna Stevens sold 10,851 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the sale, the insider now directly owns 15,477 shares of the company’s stock, valued at $104,934.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the sale, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Redfin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Redfin by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 17,238,307 shares of the company’s stock worth $177,899,000 after acquiring an additional 1,260,746 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Redfin by 2.4% in the fourth quarter. Federated Hermes Inc. now owns 1,497,912 shares of the company’s stock worth $15,458,000 after acquiring an additional 35,735 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Redfin by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 885,705 shares of the company’s stock worth $9,140,000 after acquiring an additional 29,618 shares during the last quarter. Trexquant Investment LP grew its stake in shares of Redfin by 208.8% in the fourth quarter. Trexquant Investment LP now owns 617,880 shares of the company’s stock worth $6,377,000 after acquiring an additional 417,811 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Redfin by 17.9% in the third quarter. Bank of New York Mellon Corp now owns 544,842 shares of the company’s stock worth $3,836,000 after acquiring an additional 82,724 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.