Redfin (NASDAQ:RDFN) Shares Up 7.1%

Redfin Co. (NASDAQ:RDFN) shares shot up 7.1% on Friday . The stock traded as high as $6.75 and last traded at $6.32. 3,094,926 shares traded hands during trading, a decline of 40% from the average session volume of 5,120,968 shares. The stock had previously closed at $5.90.

Analyst Ratings Changes

Several research firms have recently weighed in on RDFN. Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research note on Wednesday, February 28th. Royal Bank of Canada decreased their target price on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Citigroup decreased their target price on Redfin from $10.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Gordon Haskett cut Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price for the company. in a research report on Thursday, February 29th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $6.75 target price on shares of Redfin in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, Redfin currently has an average rating of “Hold” and a consensus price target of $7.92.

Redfin Trading Up 5.1 %

The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66. The company has a fifty day moving average of $6.16 and a 200-day moving average of $7.13. The firm has a market capitalization of $740.72 million, a PE ratio of -5.30 and a beta of 2.68.

Redfin (NASDAQ:RDFN) last posted its earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The company had revenue of $218.08 million for the quarter, compared to analyst estimates of $220.32 million. During the same period last year, the company earned ($0.83) earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Redfin Co. will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Anna Stevens sold 10,851 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the transaction, the insider now directly owns 15,477 shares in the company, valued at $104,934.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the transaction, the insider now directly owns 15,477 shares of the company’s stock, valued at approximately $104,934.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the sale, the insider now directly owns 52,117 shares in the company, valued at approximately $359,607.30. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redfin

Several institutional investors have recently added to or reduced their stakes in RDFN. Dark Forest Capital Management LP boosted its holdings in shares of Redfin by 342.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 205,033 shares of the company’s stock worth $1,443,000 after acquiring an additional 158,690 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Redfin by 89.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 360,212 shares of the company’s stock worth $3,717,000 after purchasing an additional 169,654 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Redfin in the fourth quarter valued at $206,000. Vanguard Group Inc. raised its holdings in shares of Redfin by 1.2% in the third quarter. Vanguard Group Inc. now owns 15,977,561 shares of the company’s stock valued at $112,482,000 after buying an additional 192,162 shares during the last quarter. Finally, Jump Financial LLC lifted its position in Redfin by 19.8% during the 3rd quarter. Jump Financial LLC now owns 372,548 shares of the company’s stock worth $2,623,000 after buying an additional 61,559 shares in the last quarter. 61.07% of the stock is owned by institutional investors.

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.