Redfin (NASDAQ:RDFN) had its target price boosted by stock analysts at Truist from $58.00 to $62.00 in a research report issued to clients and investors on Thursday, The Fly reports. Truist’s price target would indicate a potential upside of 16.80% from the stock’s current price.
RDFN has been the subject of a number of other reports. ValuEngine raised Redfin from a “hold” rating to a “buy” rating in a report on Friday, October 2nd. Royal Bank of Canada lowered shares of Redfin from an “outperform” rating to a “sector perform” rating and set a $41.00 price objective on the stock. in a report on Thursday, July 9th. Oppenheimer boosted their target price on shares of Redfin from $27.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Compass Point cut shares of Redfin from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Monday, August 3rd. Finally, Stifel Nicolaus raised their price target on shares of Redfin from $23.00 to $38.00 and gave the company a “hold” rating in a report on Wednesday, July 29th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $41.35.
Shares of RDFN stock traded down $2.59 during trading hours on Thursday, hitting $53.08. The company had a trading volume of 52,615 shares, compared to its average volume of 1,565,956. Redfin has a 12 month low of $9.63 and a 12 month high of $56.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.14 and a current ratio of 4.21. The firm’s fifty day moving average is $49.29 and its 200 day moving average is $35.89. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -72.70 and a beta of 1.96.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.16. The firm had revenue of $213.67 million for the quarter, compared to analysts’ expectations of $186.78 million. Redfin had a negative return on equity of 20.93% and a negative net margin of 7.73%. On average, sell-side analysts expect that Redfin will post -0.41 EPS for the current fiscal year.
In other Redfin news, CEO Glenn Kelman sold 20,000 shares of Redfin stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $42.20, for a total value of $844,000.00. Following the completion of the sale, the chief executive officer now owns 1,790,445 shares in the company, valued at approximately $75,556,779. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Bridget Frey sold 5,000 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $50.29, for a total transaction of $251,450.00. Following the completion of the sale, the chief technology officer now directly owns 110,877 shares of the company’s stock, valued at approximately $5,576,004.33. The disclosure for this sale can be found here. Insiders sold 340,630 shares of company stock worth $15,429,864 in the last ninety days. 7.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its stake in Redfin by 10.7% during the 2nd quarter. American International Group Inc. now owns 58,688 shares of the company’s stock worth $2,460,000 after acquiring an additional 5,691 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Redfin by 13.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 605,492 shares of the company’s stock valued at $25,377,000 after purchasing an additional 70,681 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in Redfin by 63.7% during the first quarter. Public Employees Retirement Association of Colorado now owns 12,149 shares of the company’s stock worth $187,000 after purchasing an additional 4,727 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its position in Redfin by 2.7% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 80,117 shares of the company’s stock worth $3,358,000 after purchasing an additional 2,084 shares during the period. Finally, Chartwell Investment Partners LLC bought a new position in Redfin in the 2nd quarter valued at about $695,000. Institutional investors own 89.59% of the company’s stock.
Redfin Company Profile
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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