Redfin Corp (NASDAQ:RDFN) has earned an average rating of “Hold” from the twenty-one ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $33.81.
Several research analysts have issued reports on the stock. Stephens increased their target price on shares of Redfin from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. DA Davidson increased their price target on shares of Redfin from $27.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Oppenheimer reissued a “buy” rating and set a $27.00 price target on shares of Redfin in a research report on Friday, May 8th. BidaskClub raised shares of Redfin from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, BTIG Research reissued a “buy” rating and set a $44.00 price target on shares of Redfin in a research report on Friday, June 26th.
Redfin stock traded down $1.39 during midday trading on Friday, hitting $41.58. 2,100,422 shares of the company’s stock were exchanged, compared to its average volume of 1,404,830. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.84 and a current ratio of 3.36. Redfin has a 12 month low of $9.63 and a 12 month high of $44.75. The firm has a 50-day moving average of $38.77 and a two-hundred day moving average of $27.31. The company has a market cap of $4.12 billion, a PE ratio of -56.96 and a beta of 2.04.
In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $30.05, for a total transaction of $90,150.00. Following the completion of the transaction, the chief financial officer now directly owns 19,086 shares of the company’s stock, valued at approximately $573,534.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Glenn Kelman sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $23.25, for a total transaction of $465,000.00. Following the transaction, the chief executive officer now directly owns 1,853,039 shares of the company’s stock, valued at $43,083,156.75. The disclosure for this sale can be found here. Insiders sold a total of 77,549 shares of company stock valued at $2,276,524 over the last ninety days. 8.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC raised its position in Redfin by 142.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 4,130,329 shares of the company’s stock worth $63,690,000 after buying an additional 2,424,806 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Redfin by 125.6% during the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,305,213 shares of the company’s stock worth $35,546,000 after purchasing an additional 1,283,300 shares during the period. Spyglass Capital Management LLC grew its stake in shares of Redfin by 10.4% during the 1st quarter. Spyglass Capital Management LLC now owns 1,572,508 shares of the company’s stock worth $24,248,000 after purchasing an additional 148,093 shares during the period. Geode Capital Management LLC grew its stake in shares of Redfin by 9.3% during the 1st quarter. Geode Capital Management LLC now owns 1,255,995 shares of the company’s stock worth $19,367,000 after purchasing an additional 107,116 shares during the period. Finally, Norges Bank acquired a new stake in shares of Redfin during the 4th quarter worth approximately $12,505,000. 87.88% of the stock is owned by institutional investors.
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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