Redfin’s (RDFN) Neutral Rating Reaffirmed at DA Davidson

DA Davidson restated their neutral rating on shares of Redfin (NASDAQ:RDFN) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $7.25 target price on the stock.

Several other equities research analysts have also recently commented on the stock. Needham & Company LLC reissued a hold rating on shares of Redfin in a research report on Thursday, May 16th. Citigroup reduced their price target on Redfin from $8.00 to $7.00 and set a neutral rating for the company in a research report on Wednesday, May 8th. Susquehanna boosted their price target on Redfin from $7.00 to $8.00 and gave the stock a neutral rating in a research report on Monday, May 13th. Stephens raised Redfin from an equal weight rating to an overweight rating and increased their price objective for the company from $8.00 to $9.00 in a report on Wednesday, May 8th. Finally, Wedbush restated a neutral rating and set a $8.00 target price on shares of Redfin in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $8.08.

Redfin Stock Performance

Shares of Redfin stock opened at $5.96 on Wednesday. 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 firm has a market cap of $712.04 million, a price-to-earnings ratio of -5.01 and a beta of 2.66. The stock’s 50-day moving average is $6.36 and its 200-day moving average is $7.12. Redfin has a one year low of $4.26 and a one year high of $17.68.

Redfin (NASDAQ:RDFN) last released its earnings results on Tuesday, May 7th. The company reported ($0.57) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $225.50 million for the quarter, compared to analysts’ expectations of $217.79 million. During the same quarter in the previous year, the business posted ($0.93) EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that Redfin will post -1.11 earnings per share for the current fiscal year.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $6.96, for a total transaction of $25,278.72. Following the transaction, the insider now owns 57,274 shares in the company, valued at approximately $398,627.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redfin

A number of hedge funds and other institutional investors have recently made changes to their positions in RDFN. ProShare Advisors LLC increased its stake in Redfin by 9.8% during the 1st quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock worth $132,000 after acquiring an additional 1,766 shares during the period. Principal Financial Group Inc. raised its stake in 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 purchasing an additional 2,241 shares in the last quarter. Swiss National Bank lifted its position in Redfin by 1.3% during the first quarter. Swiss National Bank now owns 227,500 shares of the company’s stock worth $1,513,000 after purchasing an additional 2,900 shares during the period. Victory Capital Management Inc. grew its stake in Redfin by 24.9% during 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. Finally, Allspring Global Investments Holdings LLC increased its holdings in Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock valued at $31,000 after buying an additional 3,101 shares during the period. 61.07% of the stock is currently 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.