Redfin (NASDAQ:RDFN) Trading Down 4.3%

Redfin Co. (NASDAQ:RDFN)’s share price traded down 4.3% during trading on Monday . The stock traded as low as $12.69 and last traded at $12.81. 1,654,578 shares changed hands during trading, a decline of 70% from the average session volume of 5,469,851 shares. The stock had previously closed at $13.38.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. 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 Thursday, August 8th. Susquehanna decreased their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a report on Wednesday, July 3rd. Wedbush restated a “neutral” rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.68.

Redfin Stock Performance

The stock has a market capitalization of $1.53 billion, a P/E ratio of -10.67 and a beta of 2.66. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 295.91. The firm has a 50-day moving average of $9.29 and a 200 day moving average of $7.34.

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

Insider Buying and Selling

In other news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the transaction, the insider now owns 71,720 shares in the company, valued at $663,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Redfin

A number of hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in shares of Redfin by 5.4% in the second quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock valued at $201,000 after purchasing an additional 1,710 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of 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 acquiring an additional 1,766 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Redfin by 17.7% during 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 during the period. Mather Group LLC. increased its stake in Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after purchasing an additional 2,821 shares in the last quarter. Finally, Swiss National Bank raised its holdings in 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 purchasing an additional 2,900 shares during the period. Institutional investors own 61.07% of the company’s stock.

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.