Redfin Co. (NASDAQ:RDFN) Given Average Recommendation of “Reduce” by Brokerages

Redfin Co. (NASDAQ:RDFN) has received an average recommendation of “Reduce” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $7.92.

RDFN has been the topic of several research analyst reports. Gordon Haskett cut shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price on the stock. in a research note on Thursday, February 29th. DA Davidson restated a “neutral” rating and set a $6.75 target price on shares of Redfin in a research note on Friday, March 22nd. Royal Bank of Canada lowered their target price on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Citigroup lowered their target price on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Finally, Wedbush restated a “neutral” rating and set a $8.00 target price on shares of Redfin in a research note on Wednesday, February 28th.

Insider Activity

In other news, insider Christian John Taubman sold 7,916 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the transaction, the insider now directly owns 52,117 shares in the company, valued at approximately $359,607.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Christian John Taubman sold 7,916 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the sale, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the completion of the sale, the insider now owns 15,477 shares of the company’s stock, valued at $104,934.06. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Redfin

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Redfin by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 17,238,307 shares of the company’s stock worth $177,899,000 after purchasing an additional 1,260,746 shares during the period. Two Sigma Investments LP increased its stake in Redfin by 18.6% in the first quarter. Two Sigma Investments LP now owns 2,357,750 shares of the company’s stock worth $21,361,000 after purchasing an additional 369,797 shares during the period. Geode Capital Management LLC increased its stake in Redfin by 4.9% in the second quarter. Geode Capital Management LLC now owns 2,352,574 shares of the company’s stock worth $29,219,000 after purchasing an additional 109,402 shares during the period. Renaissance Technologies LLC increased its stake in Redfin by 11.9% in the first quarter. Renaissance Technologies LLC now owns 2,174,800 shares of the company’s stock worth $19,704,000 after purchasing an additional 231,700 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Redfin by 15.8% in the first quarter. Two Sigma Advisers LP now owns 2,137,300 shares of the company’s stock worth $19,364,000 after purchasing an additional 291,400 shares during the period. 61.07% of the stock is currently owned by institutional investors.

Redfin Stock Performance

Shares of Redfin stock opened at $5.28 on Friday. The stock has a market cap of $629.59 million, a price-to-earnings ratio of -4.51 and a beta of 2.66. The firm’s 50-day moving average is $6.60 and its 200 day moving average is $7.20. Redfin has a 1 year low of $4.26 and a 1 year high of $17.68. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The company had revenue of $218.08 million for the quarter, compared to analysts’ expectations of $220.32 million. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. Redfin’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.83) EPS. Sell-side analysts anticipate that Redfin will post -1.31 EPS for the current fiscal year.

Redfin Company Profile

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.