Redfin (NASDAQ:RDFN) Earns Neutral Rating from DA Davidson

Redfin (NASDAQ:RDFN)‘s stock had its “neutral” rating reiterated by analysts at DA Davidson in a report issued on Wednesday, Benzinga reports. They currently have a $7.25 price target on the stock. DA Davidson’s price target would indicate a potential upside of 21.64% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Stephens raised shares of Redfin from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $9.00 in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research note on Thursday, May 16th. Citigroup decreased their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Susquehanna boosted their price objective on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, Wedbush restated a “neutral” rating and issued a $8.00 target price on shares of Redfin in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.08.

Redfin Stock Up 5.7 %

Shares of NASDAQ RDFN opened at $5.96 on Wednesday. The firm’s 50-day moving average is $6.37 and its two-hundred day moving average is $7.12. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $712.04 million, a PE ratio of -5.01 and a beta of 2.66. Redfin has a 12-month low of $4.26 and a 12-month high of $17.68.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.01. Redfin had a negative net margin of 13.76% and a negative return on equity of 1,780.89%. The firm had revenue of $225.50 million during the quarter, compared to analyst estimates of $217.79 million. During the same quarter in the prior year, the business posted ($0.93) earnings per share. Redfin’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Redfin will post -1.11 EPS for the current fiscal year.

Insider Buying and Selling at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $6.96, for a total transaction of $25,278.72. Following the sale, the insider now directly owns 57,274 shares of the company’s stock, valued at $398,627.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Redfin

Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in shares of Redfin by 89.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 360,212 shares of the company’s stock worth $3,717,000 after acquiring an additional 169,654 shares during the period. Valeo Financial Advisors LLC acquired a new position in Redfin during the 4th quarter valued at about $206,000. Charles Schwab Investment Management Inc. increased its stake in Redfin by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 885,705 shares of the company’s stock valued at $9,140,000 after buying an additional 29,618 shares during the period. Vanguard Group Inc. increased its stake in Redfin by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,977,561 shares of the company’s stock valued at $112,482,000 after buying an additional 192,162 shares during the period. Finally, Trexquant Investment LP increased its stake in Redfin by 208.8% during the 4th quarter. Trexquant Investment LP now owns 617,880 shares of the company’s stock valued at $6,377,000 after buying an additional 417,811 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

About Redfin

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.