Redfin (NASDAQ:RDFN) Trading Down 5.6%

Shares of Redfin Co. (NASDAQ:RDFN) fell 5.6% on Monday . The stock traded as low as $13.55 and last traded at $13.64. 5,436,986 shares were traded during mid-day trading, an increase of 2% from the average session volume of 5,333,313 shares. The stock had previously closed at $14.45.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $8.00 target price on shares of Redfin in a report on Wednesday, August 7th. B. Riley raised shares of Redfin from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.50 to $13.00 in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Susquehanna cut their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.68.

Redfin Price Performance

The company has a debt-to-equity ratio of 295.91, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a 50 day moving average price of $8.90 and a 200-day moving average price of $7.19. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -11.85 and a beta of 2.66.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The company had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. During the same quarter in the previous year, the company posted ($0.25) earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts forecast that Redfin Co. will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Redfin

In related news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the sale, the insider now owns 71,720 shares in the company, valued at approximately $663,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

Several large investors have recently bought and sold shares of RDFN. Victory Capital Management Inc. increased its holdings in Redfin by 24.9% during the 4th quarter. Victory Capital Management Inc. now owns 14,856 shares of the company’s stock worth $153,000 after purchasing an additional 2,957 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Redfin by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 885,705 shares of the company’s stock valued at $9,140,000 after acquiring an additional 29,618 shares during the last quarter. Trexquant Investment LP raised its stake in shares of Redfin by 208.8% during the 4th quarter. Trexquant Investment LP now owns 617,880 shares of the company’s stock worth $6,377,000 after buying an additional 417,811 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Redfin during the 4th quarter worth approximately $155,000. Finally, CAP Partners LLC purchased a new position in Redfin in the 4th quarter valued at approximately $275,000. 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.