Redfin (NASDAQ:RDFN) Shares Up 4.1%

Redfin Co. (NASDAQ:RDFN) shares rose 4.1% on Friday . The company traded as high as $13.79 and last traded at $13.79. Approximately 2,632,645 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 5,462,270 shares. The stock had previously closed at $13.25.

Analyst Upgrades and Downgrades

Several research firms recently commented on RDFN. Susquehanna reduced their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Wedbush restated a “neutral” rating and set a $8.00 target price on shares of Redfin in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. B. Riley upgraded Redfin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $7.50 to $13.00 in a research report on Tuesday, September 3rd. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Redfin presently has an average rating of “Hold” and a consensus price target of $7.68.

Redfin Trading Up 4.5 %

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’s fifty day moving average is $9.17 and its two-hundred day moving average is $7.28. The firm has a market cap of $1.69 billion, a P/E ratio of -11.73 and a beta of 2.66.

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

Insider Buying and Selling

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

Institutional Trading of Redfin

A number of hedge funds have recently made changes to their positions in RDFN. Mather Group LLC. boosted its holdings in Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after acquiring an additional 2,821 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Redfin by 205.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after buying an additional 3,101 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Redfin in the first quarter worth about $58,000. New York State Teachers Retirement System bought a new position in shares of Redfin in the first quarter worth approximately $66,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in shares of Redfin during the first quarter valued at approximately $72,000. 61.07% of the stock is owned by institutional investors.

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.