Redfin (NASDAQ:RDFN) had its target price hoisted by equities researchers at DA Davidson from $70.00 to $92.00 in a report released on Thursday, Stock Target Advisor reports. The firm currently has a "neutral" rating on the stock. DA Davidson's target price indicates a potential upside of 0.40% from the stock's previous close.
Several other brokerages have also commented on RDFN. Piper Sandler lifted their price objective on Redfin from $73.00 to $99.00 and gave the stock an "overweight" rating in a report on Thursday. Bank of America lifted their price objective on Redfin from $25.00 to $28.00 and gave the stock an "underperform" rating in a report on Friday, November 6th. Wedbush lifted their price objective on Redfin from $59.00 to $86.00 and gave the stock an "outperform" rating in a report on Wednesday, January 6th. Zacks Investment Research lowered Redfin from a "buy" rating to a "hold" rating in a report on Tuesday. Finally, Wolfe Research assumed coverage on Redfin in a report on Friday, November 6th. They issued an "outperform" rating for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company's stock. Redfin presently has a consensus rating of "Hold" and an average target price of $61.20.
Redfin stock opened at $91.63 on Thursday. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of -183.26 and a beta of 1.96. The stock has a fifty day simple moving average of $81.45 and a two-hundred day simple moving average of $58.91. Redfin has a 12 month low of $9.63 and a 12 month high of $98.44.
Redfin (NASDAQ:RDFN) last posted its earnings results on Tuesday, February 23rd. The company reported $0.11 EPS for the quarter, topping the Zacks' consensus estimate of $0.04 by $0.07. Redfin had a negative return on equity of 11.80% and a negative net margin of 4.61%. On average, research analysts expect that Redfin will post -0.35 earnings per share for the current fiscal year.
In other news, CFO Christopher John Nielsen sold 3,000 shares of the business's stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $75.82, for a total value of $227,460.00. Following the transaction, the chief financial officer now directly owns 23,574 shares in the company, valued at $1,787,380.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Bridget Frey sold 4,000 shares of the business's stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $49.10, for a total value of $196,400.00. Following the completion of the transaction, the chief technology officer now owns 112,021 shares in the company, valued at $5,500,231.10. The disclosure for this sale can be found here. Insiders sold 83,321 shares of company stock worth $5,811,122 over the last 90 days. Company insiders own 8.20% of the company's stock.
Several institutional investors have recently made changes to their positions in RDFN. BlackRock Inc. lifted its position in shares of Redfin by 11.2% in the fourth quarter. BlackRock Inc. now owns 7,572,146 shares of the company's stock worth $519,677,000 after buying an additional 759,662 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Redfin in the third quarter worth about $13,257,000. Baillie Gifford & Co. lifted its position in shares of Redfin by 2.6% in the fourth quarter. Baillie Gifford & Co. now owns 8,616,479 shares of the company's stock worth $591,349,000 after buying an additional 222,013 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Redfin by 90.4% in the fourth quarter. Voloridge Investment Management LLC now owns 427,399 shares of the company's stock worth $29,332,000 after buying an additional 202,972 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Redfin by 123.0% in the third quarter. Federated Hermes Inc. now owns 337,927 shares of the company's stock worth $16,872,000 after buying an additional 186,360 shares in the last quarter. Institutional investors and hedge funds own 83.82% of the company's stock.
Redfin Corporation operates as a 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; originates and sells mortgages; and buys and sells homes.
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