Redfin (RDFN) Downgraded to Hold at BidaskClub

BidaskClub lowered shares of Redfin (NASDAQ:RDFN) from a buy rating to a hold rating in a report published on Friday, BidAskClub reports.

A number of other equities research analysts have also issued reports on RDFN. Zacks Investment Research upgraded Redfin from a hold rating to a buy rating and set a $18.00 price target for the company in a research note on Saturday, January 12th. DA Davidson lowered Redfin from a neutral rating to an underperform rating and cut their price target for the stock from $17.00 to $15.50 in a research note on Tuesday, January 22nd. Compass Point started coverage on Redfin in a research note on Thursday, January 24th. They issued a buy rating and a $20.50 price target for the company. ValuEngine raised shares of Redfin from a hold rating to a buy rating in a report on Thursday, January 31st. Finally, Cowen reissued a buy rating and set a $21.00 price objective on shares of Redfin in a report on Monday, February 4th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $21.63.

Shares of RDFN stock opened at $16.73 on Friday. Redfin has a 52-week low of $13.50 and a 52-week high of $26.01. The company has a quick ratio of 10.25, a current ratio of 4.73 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -34.14 and a beta of 0.91.



Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.75) by $0.01. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. The business had revenue of $110.10 million during the quarter, compared to analyst estimates of $103.97 million. During the same quarter in the prior year, the business posted ($0.44) EPS. Redfin’s revenue for the quarter was up 37.8% compared to the same quarter last year. Analysts expect that Redfin will post -0.86 EPS for the current year.

In other Redfin news, insider Adam Wiener sold 10,000 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $19.58, for a total transaction of $195,800.00. Following the completion of the transaction, the insider now owns 180,826 shares of the company’s stock, valued at approximately $3,540,573.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Glenn Kelman acquired 25,532 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were bought at an average cost of $19.56 per share, with a total value of $499,405.92. Following the acquisition, the chief executive officer now directly owns 2,014,973 shares in the company, valued at $39,412,871.88. The disclosure for this purchase can be found here. Insiders have sold a total of 73,784 shares of company stock valued at $1,543,936 in the last three months. Insiders own 8.20% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new position in shares of Redfin in the 1st quarter valued at about $25,000. FNY Investment Advisers LLC bought a new position in shares of Redfin in the 1st quarter valued at about $36,000. Captrust Financial Advisors lifted its holdings in shares of Redfin by 167.7% in the 4th quarter. Captrust Financial Advisors now owns 2,136 shares of the company’s stock valued at $31,000 after acquiring an additional 1,338 shares during the last quarter. Edge Wealth Management LLC bought a new position in shares of Redfin in the 1st quarter valued at about $45,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Redfin by 76.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 8,110 shares of the company’s stock valued at $164,000 after acquiring an additional 3,521 shares during the last quarter. 92.55% of the stock is owned by hedge funds and other institutional investors.

About Redfin

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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