DA Davidson Reaffirms “Neutral” Rating for Redfin (NASDAQ:RDFN)

DA Davidson reaffirmed their neutral rating on shares of Redfin (NASDAQ:RDFN) in a research note published on Friday morning, Benzinga reports. The brokerage currently has a $6.75 target price on the stock.

Several other analysts also recently commented on RDFN. Gordon Haskett downgraded shares of Redfin from a hold rating to an underperform rating and set a $5.50 target price on the stock. in a report on Thursday, February 29th. Wedbush restated a neutral rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday, February 28th. Royal Bank of Canada decreased their target price on Redfin from $10.00 to $9.00 and set a sector perform rating on the stock in a research report on Wednesday, February 28th. Citigroup lowered their price objective on shares of Redfin from $10.50 to $8.00 and set a neutral rating for the company in a research report on Thursday, February 29th. Finally, B. Riley started coverage on Redfin in a report on Friday, December 8th. They set a neutral rating and a $8.00 price objective on the stock. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $7.92.

Redfin Trading Down 0.8 %

NASDAQ:RDFN traded down $0.05 during trading hours on Friday, hitting $6.05. 2,735,730 shares of the stock were exchanged, compared to its average volume of 5,443,694. The company’s 50 day moving average is $7.39 and its two-hundred day moving average is $7.44. The company has a market capitalization of $721.40 million, a P/E ratio of -5.09 and a beta of 2.67. Redfin has a twelve month low of $4.26 and a twelve month high of $17.68. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91.

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

Insider Buying and Selling

In related news, insider Christian John Taubman sold 7,916 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the sale, the insider now owns 52,117 shares in the company, valued at $359,607.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Christian John Taubman sold 7,916 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were 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 owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anna Stevens sold 10,851 shares of Redfin 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 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. 5.30% of the stock is owned by company insiders.

Institutional Trading of Redfin

Hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. lifted its stake in shares of Redfin by 2.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 41,236 shares of the company’s stock valued at $744,000 after purchasing an additional 1,000 shares in the last quarter. First Trust Advisors LP increased its position in Redfin by 8.3% in the 1st quarter. First Trust Advisors LP now owns 16,522 shares of the company’s stock valued at $298,000 after acquiring an additional 1,270 shares during the period. ProShare Advisors LLC increased its stake in Redfin by 10.6% during the 2nd quarter. ProShare Advisors LLC now owns 13,834 shares of the company’s stock valued at $172,000 after buying an additional 1,324 shares during the period. Principal Financial Group Inc. raised its holdings in Redfin by 12.6% during the fourth quarter. Principal Financial Group Inc. now owns 12,631 shares of the company’s stock worth $130,000 after purchasing an additional 1,411 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Redfin by 4.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 43,255 shares of the company’s stock valued at $183,000 after buying an additional 1,830 shares in the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.

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.