Shares of Redfin Corp (NASDAQ:RDFN) traded up 5.2% on Tuesday after Truist raised their price target on the stock from $50.00 to $58.00. The company traded as high as $52.48 and last traded at $52.00. 1,456,400 shares changed hands during trading, a decline of 10% from the average session volume of 1,624,026 shares. The stock had previously closed at $49.45.
A number of other research analysts have also weighed in on RDFN. TheStreet raised Redfin from a “d+” rating to a “c-” rating in a report on Friday, August 14th. Bank of America lowered Redfin from a “neutral” rating to an “underperform” rating and set a $24.00 target price on the stock. in a report on Monday, July 13th. Needham & Company LLC initiated coverage on Redfin in a report on Tuesday, May 19th. They issued a “hold” rating on the stock. BTIG Research upped their price objective on Redfin from $44.00 to $50.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Royal Bank of Canada lowered Redfin from an “outperform” rating to a “sector perform” rating and set a $41.00 price objective on the stock. in a report on Thursday, July 9th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.44.
In related news, Director Robert J. Mylod, Jr. sold 119,250 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.32, for a total transaction of $5,285,160.00. Following the completion of the sale, the director now directly owns 4,516 shares in the company, valued at approximately $200,149.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Bridget Frey sold 14,980 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $43.12, for a total value of $645,937.60. Following the sale, the chief technology officer now owns 120,857 shares of the company’s stock, valued at $5,211,353.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 280,630 shares of company stock valued at $12,479,704. Corporate insiders own 7.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. American International Group Inc. lifted its position in shares of Redfin by 10.7% during the 2nd quarter. American International Group Inc. now owns 58,688 shares of the company’s stock worth $2,460,000 after buying an additional 5,691 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Redfin by 63.7% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 12,149 shares of the company’s stock worth $187,000 after buying an additional 4,727 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in Redfin by 2.7% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 80,117 shares of the company’s stock worth $3,358,000 after purchasing an additional 2,084 shares in the last quarter. Chartwell Investment Partners LLC acquired a new position in Redfin in the 2nd quarter worth about $695,000. Finally, Swiss National Bank increased its holdings in Redfin by 38.0% in the 2nd quarter. Swiss National Bank now owns 197,500 shares of the company’s stock worth $8,277,000 after purchasing an additional 54,400 shares in the last quarter. Institutional investors and hedge funds own 89.59% of the company’s stock.
The business has a fifty day simple moving average of $45.31 and a 200-day simple moving average of $31.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.14 and a current ratio of 4.21. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of -70.21 and a beta of 1.96.
Redfin (NASDAQ:RDFN) last issued its earnings results on Thursday, July 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.16. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. The business had revenue of $213.67 million during the quarter, compared to analysts’ expectations of $186.78 million. On average, equities analysts anticipate that Redfin Corp will post -0.41 earnings per share for the current year.
Redfin Company Profile (NASDAQ:RDFN)
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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