DA Davidson Raises Redfin (NASDAQ:RDFN) Price Target to $7.25

Redfin (NASDAQ:RDFN - Get Free Report) had its price objective hoisted by analysts at DA Davidson from $6.75 to $7.25 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. DA Davidson's price objective points to a potential upside of 2.55% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada decreased their price objective on shares of Redfin from $10.00 to $9.00 and set a "sector perform" rating for the company in a report on Wednesday, February 28th. Needham & Company LLC reissued a "hold" rating on shares of Redfin in a report on Wednesday. Citigroup reduced their price target on shares of Redfin from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday. Gordon Haskett downgraded shares of Redfin from a "hold" rating to an "underperform" rating and set a $5.50 price target for the company. in a report on Thursday, February 29th. Finally, Stephens raised shares of Redfin from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $8.00 to $9.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.08.

Redfin Stock Up 13.1 %

Shares of RDFN stock traded up $0.82 during mid-day trading on Wednesday, reaching $7.07. 7,302,317 shares of the company were exchanged, compared to its average volume of 5,226,992. Redfin has a fifty-two week low of $4.26 and a fifty-two week high of $17.68. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $844.65 million, a P/E ratio of -5.76 and a beta of 2.68. The business's 50 day simple moving average is $6.12 and its 200 day simple moving average is $7.15.

Redfin (NASDAQ:RDFN - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, topping analysts' consensus estimates of ($0.58) by $0.01. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The business had revenue of $225.50 million during the quarter, compared to the consensus estimate of $217.79 million. During the same quarter last year, the company earned ($0.93) earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts predict that Redfin will post -1.31 earnings per share for the current year.

Insider Activity at Redfin

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 owns 15,477 shares in the company, valued at approximately $104,934.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Christian John Taubman sold 7,916 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the transaction, the insider now owns 52,117 shares in the company, valued at approximately $359,607.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anna Stevens sold 10,851 shares of the company'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 sale, the insider now directly owns 15,477 shares of the company's stock, valued at $104,934.06. The disclosure for this sale can be found here. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Entropy Technologies LP grew its position in Redfin by 41.4% during the first quarter. Entropy Technologies LP now owns 80,912 shares of the company's stock valued at $538,000 after purchasing an additional 23,689 shares in the last quarter. ProShare Advisors LLC grew its position in Redfin by 9.8% during the first quarter. ProShare Advisors LLC now owns 19,876 shares of the company's stock valued at $132,000 after purchasing an additional 1,766 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Redfin during the first quarter valued at approximately $298,000. Swiss National Bank grew its position in Redfin by 1.3% during the first quarter. Swiss National Bank now owns 227,500 shares of the company's stock valued at $1,513,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Manchester Capital Management LLC grew its position in Redfin by 135.7% in the first quarter. Manchester Capital Management LLC now owns 144,118 shares of the company's stock worth $958,000 after acquiring an additional 82,965 shares in the last quarter. 61.07% of the stock is owned by hedge funds and other 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.