Shares of Redfin Co. (NASDAQ:RDFN - Get Free Report) traded up 6.3% during mid-day trading on Thursday . The company traded as high as $10.31 and last traded at $10.44. 3,532,105 shares changed hands during trading, a decline of 46% from the average session volume of 6,537,663 shares. The stock had previously closed at $9.82.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Needham & Company LLC restated a "hold" rating on shares of Redfin in a report on Tuesday, March 11th. B. Riley lowered shares of Redfin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 10th. Stephens decreased their price objective on shares of Redfin from $12.50 to $11.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their price objective on shares of Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Finally, DA Davidson restated a "neutral" rating and set a $7.25 target price on shares of Redfin in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $10.45.
Read Our Latest Analysis on RDFN
Redfin Stock Down 1.0%
The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -7.70 and a beta of 2.50. The firm has a 50 day moving average price of $9.40 and a two-hundred day moving average price of $8.91.
Redfin (NASDAQ:RDFN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to analysts' expectations of $220.89 million. During the same period in the previous year, the business posted ($0.57) EPS. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. Analysts predict that Redfin Co. will post -1.25 earnings per share for the current year.
Insider Activity at Redfin
In other Redfin news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the transaction, the insider now owns 74,616 shares of the company's stock, valued at $831,968.40. This trade represents a 17.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Redfin
Several large investors have recently added to or reduced their stakes in the company. Magnetar Financial LLC acquired a new position in shares of Redfin in the 1st quarter valued at about $39,001,000. Alpine Associates Management Inc. bought a new position in Redfin in the first quarter worth about $12,150,000. Nuveen LLC acquired a new position in Redfin in the first quarter valued at approximately $10,222,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Redfin during the first quarter valued at approximately $8,285,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Redfin by 38,105.3% during the first quarter. Jones Financial Companies Lllp now owns 677,380 shares of the company's stock valued at $6,239,000 after purchasing an additional 675,607 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors.
About Redfin
(
Get Free Report)
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.
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