Redfin’s (RDFN) Neutral Rating Reaffirmed at DA Davidson

Redfin (NASDAQ:RDFN)‘s stock had its “neutral” rating reiterated by DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $7.25 price objective on the stock. DA Davidson’s price target would indicate a potential downside of 10.71% from the company’s previous close.

Other research analysts have also issued research reports about the company. Susquehanna boosted their price objective on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Jefferies Financial Group boosted their price target on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Wedbush increased their price objective on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, B. Riley upped their target price on shares of Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.98.

Redfin Stock Up 1.5 %

Shares of NASDAQ:RDFN traded up $0.12 on Tuesday, reaching $8.12. 4,919,595 shares of the company’s stock were exchanged, compared to its average volume of 5,574,223. Redfin has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The business’s 50-day moving average is $11.07 and its two-hundred day moving average is $8.68. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.34 and a beta of 2.70.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million for the quarter, compared to analysts’ expectations of $280.21 million. During the same quarter last year, the business posted ($0.17) EPS. Analysts predict that Redfin will post -1.23 earnings per share 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 on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the sale, the insider now owns 71,720 shares of the company’s stock, valued at approximately $663,410. The trade was a 4.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Redfin

Large investors have recently made changes to their positions in the business. Hollencrest Capital Management bought a new stake in shares of Redfin during the 3rd quarter worth $25,000. Blue Trust Inc. lifted its stake in Redfin by 285.7% during the third quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after buying an additional 2,446 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Redfin in the third quarter worth about $47,000. Mather Group LLC. increased its position in shares of Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after acquiring an additional 2,821 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Redfin during the third quarter valued at approximately $48,000. 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.