Redfin (NASDAQ:RDFN) has been assigned a $21.00 price objective by investment analysts at Cowen in a research report issued on Friday. The firm presently has a “buy” rating on the stock. Cowen’s price objective would indicate a potential upside of 46.65% from the company’s current price.
RDFN has been the topic of a number of other research reports. BidaskClub raised shares of Redfin from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Zacks Investment Research raised shares of Redfin from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Macquarie began coverage on shares of Redfin in a report on Monday, September 17th. They set a “neutral” rating and a $20.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Redfin in a report on Friday, August 10th. Finally, DA Davidson lowered shares of Redfin from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a report on Friday, August 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.42.
Shares of RDFN traded down $0.53 during trading hours on Friday, hitting $14.32. The stock had a trading volume of 18,340 shares, compared to its average volume of 1,003,404. Redfin has a 52 week low of $14.46 and a 52 week high of $31.50. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -69.95 and a beta of -0.63.
Redfin (NASDAQ:RDFN) last posted its earnings results on Thursday, November 8th. The company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Redfin had a negative net margin of 15.12% and a negative return on equity of 10.83%. The business had revenue of $140.30 million for the quarter, compared to analyst estimates of $139.45 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, sell-side analysts predict that Redfin will post -0.43 EPS for the current fiscal year.
In other Redfin news, insider Adam Wiener sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $19.09, for a total transaction of $190,900.00. Following the sale, the insider now directly owns 218,449 shares in the company, valued at approximately $4,170,191.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Nagel sold 6,250 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $16.44, for a total transaction of $102,750.00. Following the sale, the insider now owns 14,583 shares in the company, valued at $239,744.52. The disclosure for this sale can be found here. Insiders sold a total of 57,290 shares of company stock worth $1,005,361 over the last quarter. 8.80% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Redfin by 30.2% during the 2nd quarter. BlackRock Inc. now owns 3,702,637 shares of the company’s stock worth $85,495,000 after acquiring an additional 858,154 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Redfin by 36.9% during the 2nd quarter. Baillie Gifford & Co. now owns 3,284,072 shares of the company’s stock worth $75,829,000 after acquiring an additional 885,813 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Redfin by 31.9% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 2,333,868 shares of the company’s stock worth $43,783,000 after acquiring an additional 564,802 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Redfin by 32.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,295,248 shares of the company’s stock worth $42,921,000 after acquiring an additional 558,232 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Redfin by 69.0% during the 3rd quarter. Janus Henderson Group PLC now owns 1,380,983 shares of the company’s stock worth $25,824,000 after acquiring an additional 563,900 shares in the last quarter. 78.16% of the stock is owned by institutional investors.
Redfin Company Profile
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
Featured Story: How is the discount rate different from the Federal Funds rate?
Receive News & Ratings for Redfin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redfin and related companies with MarketBeat.com's FREE daily email newsletter.