Redfin Co. (NASDAQ:RDFN) Receives Average Rating of "Hold" from Analysts

Saturday, April 10, 2021 | MarketBeat

Redfin Co. (NASDAQ:RDFN) has earned a consensus rating of "Hold" from the twenty ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $60.08.

RDFN has been the topic of several recent analyst reports. Zacks Investment Research cut Redfin from a "buy" rating to a "hold" rating in a research report on Tuesday, February 23rd. The Goldman Sachs Group raised Redfin from a "sell" rating to a "neutral" rating and increased their price objective for the company from $41.00 to $78.00 in a research report on Friday, February 5th. Oppenheimer reaffirmed a "hold" rating on shares of Redfin in a research report on Thursday, February 25th. Wedbush increased their price objective on Redfin from $59.00 to $86.00 and gave the company an "outperform" rating in a research report on Wednesday, January 6th. Finally, Truist increased their price objective on Redfin from $84.00 to $102.00 in a research report on Tuesday, February 23rd.

In related news, insider Adam Wiener sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 12th. The stock was sold at an average price of $80.01, for a total transaction of $1,200,150.00. Following the completion of the transaction, the insider now directly owns 290,509 shares of the company's stock, valued at $23,243,625.09. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert J. Bass sold 1,500 shares of the stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $68.54, for a total value of $102,810.00. Following the transaction, the director now directly owns 6,992 shares of the company's stock, valued at $479,231.68. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock valued at $4,019,015 in the last quarter. 8.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in RDFN. First Trust Advisors LP bought a new stake in shares of Redfin in the 1st quarter valued at approximately $521,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Redfin in the 1st quarter valued at approximately $697,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Redfin by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 644,056 shares of the company's stock valued at $32,158,000 after purchasing an additional 38,564 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Redfin in the 3rd quarter valued at approximately $227,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Redfin by 2.2% in the 3rd quarter. Squarepoint Ops LLC now owns 26,500 shares of the company's stock valued at $1,323,000 after purchasing an additional 558 shares during the last quarter. 83.82% of the stock is owned by institutional investors.

Shares of NASDAQ RDFN traded down $0.41 during trading on Friday, reaching $67.30. The company had a trading volume of 6,320 shares, compared to its average volume of 1,761,045. Redfin has a 12-month low of $16.55 and a 12-month high of $98.44. The stock has a market cap of $6.95 billion, a PE ratio of -132.00 and a beta of 1.96. The business's 50-day moving average is $72.98 and its 200 day moving average is $63.90.

Redfin (NASDAQ:RDFN) last released its earnings results on Tuesday, February 23rd. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.07. Redfin had a negative return on equity of 11.80% and a negative net margin of 4.61%. The firm had revenue of $244.52 million for the quarter, compared to analysts' expectations of $233.11 million. Research analysts forecast that Redfin will post -0.35 EPS for the current year.

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; originates and sells mortgages; and buys and sells homes.

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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