Redfin Corp (NASDAQ:RDFN) – Analysts at Truist Securiti boosted their FY2020 earnings per share estimates for shares of Redfin in a research note issued on Monday, September 14th. Truist Securiti analyst N. Khan now anticipates that the company will post earnings of ($0.40) per share for the year, up from their prior estimate of ($0.41). Truist Securiti also issued estimates for Redfin’s FY2021 earnings at ($0.14) EPS, FY2022 earnings at $0.37 EPS, FY2023 earnings at $0.93 EPS and FY2024 earnings at $1.63 EPS.

Redfin (NASDAQ:RDFN) last announced its earnings results on Thursday, July 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.16. Redfin had a negative net margin of 7.73% and a negative return on equity of 20.93%. The business had revenue of $213.67 million for the quarter, compared to analyst estimates of $186.78 million.

Several other analysts have also issued reports on RDFN. BidaskClub upgraded shares of Redfin from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Stifel Nicolaus boosted their price target on shares of Redfin from $23.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. BofA Securities lowered shares of Redfin from a “neutral” rating to an “underperform” rating and set a $24.00 price target on the stock. in a research report on Monday, July 13th. Truist boosted their price target on shares of Redfin from $50.00 to $58.00 in a research report on Monday. Finally, Goldman Sachs Group boosted their price target on shares of Redfin from $19.00 to $30.00 and gave the stock a “sell” rating in a research report on Monday, July 20th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.44.

Shares of NASDAQ RDFN opened at $52.00 on Wednesday. The company’s 50-day simple moving average is $45.08 and its 200-day simple moving average is $31.63. Redfin has a 52-week low of $9.63 and a 52-week high of $55.43. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of -71.23 and a beta of 1.96. The company has a quick ratio of 4.14, a current ratio of 4.21 and a debt-to-equity ratio of 0.50.

Several large investors have recently made changes to their positions in RDFN. Oppenheimer Asset Management Inc. purchased a new stake in shares of Redfin in the 1st quarter valued at approximately $30,000. PNC Financial Services Group Inc. increased its position in shares of Redfin by 1,772.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,184 shares of the company’s stock valued at $49,000 after purchasing an additional 3,014 shares during the last quarter. Arkadios Wealth Advisors increased its position in shares of Redfin by 368.0% in the 1st quarter. Arkadios Wealth Advisors now owns 3,791 shares of the company’s stock valued at $58,000 after purchasing an additional 2,981 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in shares of Redfin in the 1st quarter valued at approximately $127,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Redfin in the 2nd quarter valued at approximately $168,000. 89.59% of the stock is currently owned by institutional investors.

In other Redfin news, CEO Glenn Kelman sold 20,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $42.20, for a total value of $844,000.00. Following the sale, the chief executive officer now directly owns 1,790,445 shares of the company’s stock, valued at approximately $75,556,779. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Christopher John Nielsen sold 3,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $40.31, for a total transaction of $120,930.00. Following the completion of the sale, the chief financial officer now directly owns 19,086 shares in the company, valued at $769,356.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 280,630 shares of company stock worth $12,479,704. 7.30% of the stock is owned by insiders.

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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Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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