BidaskClub upgraded shares of Redfin (NASDAQ:RDFN) from a sell rating to a hold rating in a research note published on Tuesday morning.

A number of other analysts have also recently commented on RDFN. Zacks Investment Research cut Redfin from a hold rating to a sell rating in a research report on Tuesday, October 23rd. ValuEngine cut Redfin from a buy rating to a hold rating in a research report on Wednesday, January 2nd. Zelman & Associates cut Redfin from a buy rating to a hold rating in a research report on Friday, November 9th. DA Davidson cut their price objective on Redfin to $17.50 and set a neutral rating for the company in a research report on Tuesday, November 13th. Finally, William Blair cut Redfin from an outperform rating to a market perform rating in a research report on Friday, November 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $22.50.

Redfin stock opened at $16.96 on Tuesday. The company has a market capitalization of $1.41 billion, a PE ratio of -84.80 and a beta of 0.24. Redfin has a 12 month low of $13.50 and a 12 month high of $27.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.57 and a quick ratio of 8.15.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. The business had revenue of $140.30 million during the quarter, compared to analysts’ expectations of $139.45 million. Redfin had a negative return on equity of 12.10% and a negative net margin of 6.88%. The business’s revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. As a group, equities analysts predict that Redfin will post -0.54 EPS for the current fiscal year.

In related news, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $16.05, for a total transaction of $160,500.00. Following the completion of the sale, the insider now directly owns 208,449 shares in the company, valued at $3,345,606.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Nagel sold 6,250 shares of the business’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 value of $102,750.00. Following the sale, the insider now owns 14,583 shares of the company’s stock, valued at $239,744.52. The disclosure for this sale can be found here. Insiders have sold 47,755 shares of company stock valued at $758,106 over the last quarter. 8.80% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of RDFN. Vanguard Group Inc boosted its stake in Redfin by 29.5% during the third quarter. Vanguard Group Inc now owns 8,056,148 shares of the company’s stock worth $150,651,000 after buying an additional 1,836,101 shares during the last quarter. Vanguard Group Inc. boosted its stake in Redfin by 29.5% during the third quarter. Vanguard Group Inc. now owns 8,056,148 shares of the company’s stock worth $150,651,000 after buying an additional 1,836,101 shares during the last quarter. Capital International Investors acquired a new position in Redfin during the third quarter worth $107,820,000. BlackRock Inc. boosted its stake in Redfin by 33.8% during the third quarter. BlackRock Inc. now owns 4,953,847 shares of the company’s stock worth $92,637,000 after buying an additional 1,251,210 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in Redfin by 14.6% during the third quarter. Baillie Gifford & Co. now owns 3,762,365 shares of the company’s stock worth $70,357,000 after buying an additional 478,293 shares during the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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.

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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