Redfin (NASDAQ:RDFN) Shares Down 3%

Redfin Co. (NASDAQ:RDFN)’s stock price was down 3% during mid-day trading on Tuesday . The company traded as low as $7.95 and last traded at $8.02. Approximately 4,965,545 shares changed hands during trading, an increase of 0% from the average daily volume of 4,949,709 shares. The stock had previously closed at $8.27.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wedbush reissued a “neutral” rating and set a $8.00 target price on shares of Redfin in a research report on Wednesday, May 8th. Citigroup dropped their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a report on Thursday, May 16th. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, July 3rd. Finally, Stephens raised Redfin from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $9.00 in a research report on Wednesday, May 8th. Two research 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 company has an average rating of “Hold” and an average price target of $8.08.

Redfin Price Performance

The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.33 and a current ratio of 1.33. The business’s fifty day simple moving average is $6.62 and its 200 day simple moving average is $6.93. The stock has a market cap of $961.73 million, a price-to-earnings ratio of -6.76 and a beta of 2.66.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) 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 quarter in the previous year, the firm posted ($0.93) earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. Research analysts predict that Redfin Co. will post -1.11 EPS for the current fiscal year.

Insider Buying and Selling at Redfin

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

Institutional Trading of Redfin

Institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. boosted its stake in Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after acquiring an additional 2,821 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Redfin by 205.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock valued at $31,000 after purchasing an additional 3,101 shares during the period. EntryPoint Capital LLC bought a new position in Redfin during the 1st quarter worth $58,000. Tower Research Capital LLC TRC increased its position in Redfin by 101.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,864 shares of the company’s stock worth $91,000 after buying an additional 4,474 shares during the period. Finally, New York State Teachers Retirement System bought a new stake in Redfin in the first quarter valued at $66,000. 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.