Redfin (NASDAQ:RDFN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Redfin Corporation is engaged in providing residential real estate search and brokerage services. The Company provides 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 and originate mortgages. Redfin Corporation is headquartered in Seattle, Washington. “

A number of other research analysts also recently issued reports on RDFN. BidaskClub upgraded Redfin from a “hold” rating to a “buy” rating in a research note on Wednesday, January 16th. DA Davidson downgraded Redfin from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $17.00 to $15.50 in a research note on Tuesday, January 22nd. Compass Point began coverage on Redfin in a research note on Thursday, January 24th. They set a “buy” rating and a $20.50 price target on the stock. ValuEngine raised Redfin from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Finally, Cowen reaffirmed a “buy” rating and set a $21.00 price objective on shares of Redfin in a research report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Redfin currently has a consensus rating of “Hold” and an average target price of $21.63.

NASDAQ:RDFN opened at $17.30 on Tuesday. The company has a market cap of $1.58 billion, a P/E ratio of -35.31 and a beta of 0.91. The company has a current ratio of 4.73, a quick ratio of 4.36 and a debt-to-equity ratio of 0.50. Redfin has a 52-week low of $13.50 and a 52-week high of $26.01.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.01. The firm had revenue of $110.10 million for the quarter, compared to the consensus estimate of $103.97 million. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. The firm’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.44) EPS. On average, research analysts expect that Redfin will post -0.93 EPS for the current fiscal year.

In other news, insider Adam Wiener sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $19.58, for a total value of $195,800.00. Following the completion of the sale, the insider now directly owns 180,826 shares of the company’s stock, valued at approximately $3,540,573.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn Kelman purchased 25,532 shares of Redfin stock in a transaction dated Tuesday, February 19th. The stock was acquired at an average cost of $19.56 per share, with a total value of $499,405.92. Following the completion of the acquisition, the chief executive officer now directly owns 2,014,973 shares in the company, valued at $39,412,871.88. The disclosure for this purchase can be found here. Insiders have sold a total of 73,784 shares of company stock valued at $1,543,936 over the last ninety days. 8.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Redfin by 29.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,056,148 shares of the company’s stock valued at $150,651,000 after buying an additional 1,836,101 shares during the period. Jackson Square Partners LLC lifted its holdings in shares of Redfin by 6.9% in the 1st quarter. Jackson Square Partners LLC now owns 6,490,949 shares of the company’s stock valued at $131,571,000 after buying an additional 417,458 shares during the period. BlackRock Inc. lifted its holdings in shares of Redfin by 5.3% in the 4th quarter. BlackRock Inc. now owns 5,214,205 shares of the company’s stock valued at $75,084,000 after buying an additional 260,358 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Redfin by 1.4% in the 1st quarter. Baillie Gifford & Co. now owns 4,747,382 shares of the company’s stock valued at $96,229,000 after buying an additional 63,333 shares during the period. Finally, SEI Investments Co lifted its holdings in shares of Redfin by 81.4% in the 1st quarter. SEI Investments Co now owns 1,541,185 shares of the company’s stock valued at $31,256,000 after buying an additional 691,608 shares during the period. 94.57% of the stock is owned by institutional investors and hedge funds.

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, 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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