Redfin (NASDAQ:RDFN) had its price target hoisted by Oppenheimer from $24.00 to $31.00 in a research report sent to investors on Thursday, The Fly reports. The firm currently has an outperform rating on the stock.
Several other brokerages have also weighed in on RDFN. Zacks Investment Research upgraded shares of Redfin from a hold rating to a buy rating and set a $24.00 price objective on the stock in a report on Wednesday, January 8th. Stephens reiterated an overweight rating and set a $30.00 price objective (up from $25.00) on shares of Redfin in a report on Monday, January 27th. DA Davidson upgraded shares of Redfin from a neutral rating to a buy rating and increased their price objective for the stock from $18.50 to $25.00 in a report on Tuesday, December 10th. BidaskClub upgraded shares of Redfin from a buy rating to a strong-buy rating in a report on Friday, January 24th. Finally, Wedbush reiterated an outperform rating and set a $26.00 price objective on shares of Redfin in a report on Thursday, January 16th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Redfin presently has an average rating of Buy and a consensus price target of $26.13.
Shares of RDFN stock traded up $1.12 during trading hours on Thursday, hitting $31.23. 3,931,270 shares of the company were exchanged, compared to its average volume of 1,390,043. The firm has a market cap of $2.78 billion, a PE ratio of -32.87 and a beta of 1.41. Redfin has a 1 year low of $14.70 and a 1 year high of $31.50. The company has a quick ratio of 3.68, a current ratio of 4.81 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $23.52 and a 200 day moving average of $19.68.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.04. The business had revenue of $233.20 million for the quarter, compared to analyst estimates of $217.17 million. Redfin had a negative net margin of 12.71% and a negative return on equity of 25.71%. The company’s revenue was up 87.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) EPS. Analysts expect that Redfin will post -0.92 earnings per share for the current year.
In related news, insider Adam Wiener sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.20, for a total transaction of $580,000.00. Following the completion of the sale, the insider now owns 197,842 shares of the company’s stock, valued at approximately $4,589,934.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher John Nielsen sold 3,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $24.59, for a total transaction of $73,770.00. Following the sale, the chief financial officer now directly owns 11,306 shares of the company’s stock, valued at approximately $278,014.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,000 shares of company stock valued at $3,129,600. Corporate insiders own 8.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its position in Redfin by 35.8% during the 4th quarter. Baillie Gifford & Co. now owns 8,001,769 shares of the company’s stock worth $169,158,000 after purchasing an additional 2,110,499 shares in the last quarter. Jackson Square Partners LLC grew its position in Redfin by 1.9% in the fourth quarter. Jackson Square Partners LLC now owns 7,057,900 shares of the company’s stock valued at $149,204,000 after acquiring an additional 128,347 shares in the last quarter. Bank of New York Mellon Corp grew its position in Redfin by 464.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,952,429 shares of the company’s stock valued at $41,274,000 after acquiring an additional 1,606,594 shares in the last quarter. State Street Corp grew its position in Redfin by 3.0% in the fourth quarter. State Street Corp now owns 1,784,041 shares of the company’s stock valued at $37,715,000 after acquiring an additional 52,447 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Redfin by 396.6% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,705,523 shares of the company’s stock valued at $36,055,000 after acquiring an additional 1,362,077 shares in the last quarter. 91.33% of the stock is owned by hedge funds and other institutional investors.
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, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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