Redfin (NASDAQ:RDFN) Given Hold Rating at Needham & Company LLC

Redfin (NASDAQ:RDFN)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

A number of other brokerages have also weighed in on RDFN. DA Davidson boosted their price target on Redfin from $6.75 to $7.25 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Stephens raised Redfin from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $9.00 in a report on Wednesday, May 8th. Gordon Haskett downgraded Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price for the company. in a report on Thursday, February 29th. Citigroup decreased their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, Royal Bank of Canada decreased their target price on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.08.

Redfin Price Performance

RDFN opened at $7.86 on Thursday. Redfin has a 1 year low of $4.26 and a 1 year high of $17.68. The firm has a market capitalization of $939.03 million, a PE ratio of -6.60 and a beta of 2.68. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.33 and a quick ratio of 1.33. The business’s 50-day moving average is $6.21 and its two-hundred day moving average is $7.24.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.76%. The business had revenue of $225.50 million for the quarter, compared to analyst estimates of $217.79 million. During the same quarter in the previous year, the firm earned ($0.93) earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Research analysts anticipate that Redfin will post -1.13 earnings per share for the current fiscal year.

Insider Activity

In other Redfin 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 transaction, the insider now owns 52,117 shares in the company, valued at $359,607.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Anna Stevens sold 10,851 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the transaction, the insider now owns 15,477 shares in the company, valued at approximately $104,934.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christian John Taubman sold 7,916 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were 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 $359,607.30. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Redfin

Hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its stake in Redfin by 9.8% in the 1st quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock valued at $132,000 after purchasing an additional 1,766 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Redfin by 17.7% in the first quarter. Principal Financial Group Inc. now owns 14,872 shares of the company’s stock valued at $99,000 after buying an additional 2,241 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Redfin by 4.4% in the third quarter. Jennison Associates LLC now owns 61,019 shares of the company’s stock worth $430,000 after buying an additional 2,580 shares in the last quarter. Swiss National Bank lifted its stake in shares of Redfin by 1.3% in the first quarter. Swiss National Bank now owns 227,500 shares of the company’s stock worth $1,513,000 after buying an additional 2,900 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Redfin by 24.9% in the fourth quarter. Victory Capital Management Inc. now owns 14,856 shares of the company’s stock worth $153,000 after buying an additional 2,957 shares in the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

About Redfin

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.