Redfin (RDFN) Rating Lowered to D+ at TheStreet

TheStreet cut shares of Redfin (NASDAQ:RDFN) from a c- rating to a d+ rating in a research note released on Tuesday, TheStreetRatingsTable reports.

RDFN has been the subject of a number of other reports. Bank of America reissued a neutral rating and issued a $15.00 price target on shares of Redfin in a research report on Friday, February 15th. Zacks Investment Research raised Redfin from a hold rating to a buy rating and set a $19.00 price target for the company in a research report on Wednesday, January 30th. ValuEngine raised Redfin from a hold rating to a buy rating in a research report on Friday, April 5th. Compass Point raised their target price on Redfin from $20.50 to $22.75 and gave the company a buy rating in a research report on Friday, February 15th. Finally, BidaskClub raised Redfin from a buy rating to a strong-buy rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Redfin has a consensus rating of Hold and a consensus target price of $21.63.

NASDAQ RDFN opened at $17.37 on Tuesday. The firm has a market capitalization of $1.58 billion, a P/E ratio of -35.45 and a beta of 0.91. Redfin has a 12 month low of $13.50 and a 12 month high of $26.01. The company has a quick ratio of 4.36, a current ratio of 4.73 and a debt-to-equity ratio of 0.50.



Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.01. The business had revenue of $110.10 million during the quarter, compared to analyst estimates of $103.97 million. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. Redfin’s quarterly revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.44) EPS. Equities analysts expect that Redfin will post -0.95 EPS for the current year.

In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $19.64, for a total value of $58,920.00. Following the completion of the transaction, the chief financial officer now owns 3,000 shares in the company, valued at approximately $58,920. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Glenn Kelman bought 25,532 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was bought at an average price of $19.56 per share, with a total value of $499,405.92. Following the purchase, the chief executive officer now owns 2,014,973 shares in the company, valued at $39,412,871.88. The disclosure for this purchase can be found here. In the last three months, insiders sold 66,784 shares of company stock valued at $1,400,096. 8.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Hamilton Lane Advisors LLC bought a new position in Redfin in the 1st quarter worth about $1,994,000. Geode Capital Management LLC boosted its stake in Redfin by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 803,800 shares of the company’s stock worth $11,574,000 after purchasing an additional 58,302 shares during the period. Freestone Capital Holdings LLC boosted its stake in Redfin by 1.3% in the 4th quarter. Freestone Capital Holdings LLC now owns 271,839 shares of the company’s stock worth $3,914,000 after purchasing an additional 3,440 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Redfin by 376.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 25,249 shares of the company’s stock worth $364,000 after purchasing an additional 19,945 shares during the period. Finally, Citigroup Inc. boosted its stake in Redfin by 28.9% in the 4th quarter. Citigroup Inc. now owns 83,308 shares of the company’s stock worth $1,200,000 after purchasing an additional 18,690 shares during the period. Institutional investors and hedge funds own 94.57% of the company’s stock.

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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