Redfin Co. (NASDAQ:RDFN - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $6.45, but opened at $6.95. Redfin shares last traded at $6.88, with a volume of 1,516,405 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $7.25 price target on shares of Redfin in a report on Wednesday, July 3rd. Susquehanna lifted their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Monday, May 13th. Citigroup reduced 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. Stephens upgraded shares of Redfin from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $8.00 to $9.00 in a research note on Wednesday, May 8th. Finally, Wedbush reiterated a "neutral" rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $8.08.
Read Our Latest Stock Analysis on Redfin
Redfin Price Performance
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 firm has a market capitalization of $839.88 million, a P/E ratio of -5.80 and a beta of 2.66. The firm's 50 day simple moving average is $6.43 and its two-hundred day simple moving average is $7.01.
Redfin (NASDAQ:RDFN - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $225.50 million during the quarter, compared to the consensus estimate of $217.79 million. Redfin had a negative net margin of 13.76% and a negative return on equity of 1,780.89%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.93) earnings per share. As a group, analysts predict that Redfin Co. will post -1.11 earnings per share for the current year.
Insider Activity
In other Redfin news, insider Christian John Taubman sold 3,632 shares of the firm's stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $6.96, for a total transaction of $25,278.72. Following the completion of the transaction, the insider now owns 57,274 shares of the company's stock, valued at $398,627.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.40% of the company's stock.
Institutional Investors Weigh In On Redfin
Several hedge funds have recently added to or reduced their stakes in RDFN. Mather Group LLC. raised its position in shares of Redfin by 282.1% in the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company's stock worth $25,000 after purchasing an additional 2,821 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company's stock worth $31,000 after acquiring an additional 3,101 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Redfin in the 1st quarter worth approximately $58,000. Tower Research Capital LLC TRC raised its holdings in Redfin by 101.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,864 shares of the company's stock worth $91,000 after acquiring an additional 4,474 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in Redfin in the 1st quarter worth approximately $66,000. 61.07% of the stock is owned by institutional investors.
About Redfin
(
Get Free Report)
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.
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