Redfin (NASDAQ:RDFN) Receives “Neutral” Rating from DA Davidson

Redfin (NASDAQ:RDFN)‘s stock had its “neutral” rating restated by analysts at DA Davidson in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $7.25 price target on the stock. DA Davidson’s price target would suggest a potential upside of 22.88% from the stock’s previous close.

RDFN has been the topic of several other reports. Citigroup decreased their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Wedbush reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Redfin in a report on Wednesday, May 8th. Stephens raised Redfin from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $9.00 in a report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research note on Thursday, May 16th. Finally, Susquehanna boosted their price objective on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.08.

Redfin Stock Performance

Shares of RDFN stock traded up $0.26 on Wednesday, reaching $5.90. The stock had a trading volume of 1,486,993 shares, compared to its average volume of 4,886,517. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.33 and a current ratio of 1.33. Redfin has a 1 year low of $4.26 and a 1 year high of $17.68. The stock has a market cap of $704.87 million, a P/E ratio of -4.94 and a beta of 2.66. The company has a 50 day simple moving average of $6.34 and a 200 day simple moving average of $7.13.

Redfin (NASDAQ:RDFN) last announced its earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.76%. The business had revenue of $225.50 million for the quarter, compared to analysts’ expectations of $217.79 million. During the same period last year, the firm posted ($0.93) earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts expect that Redfin will post -1.11 EPS for the current year.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $6.96, for a total value of $25,278.72. Following the sale, the insider now owns 57,274 shares in the company, valued at approximately $398,627.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Trading of Redfin

Large investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd increased its position in Redfin by 144.0% in the third quarter. Qube Research & Technologies Ltd now owns 499,577 shares of the company’s stock worth $3,517,000 after purchasing an additional 294,802 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Redfin in the 3rd quarter worth about $1,019,000. Seven Eight Capital LP purchased a new stake in shares of Redfin during the 3rd quarter valued at about $86,000. Graham Capital Management L.P. bought a new position in shares of Redfin in the 3rd quarter valued at about $493,000. Finally, Vanguard Group Inc. grew its position in Redfin by 1.2% in the third quarter. Vanguard Group Inc. now owns 15,977,561 shares of the company’s stock worth $112,482,000 after acquiring an additional 192,162 shares in the last quarter. 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.