Redfin (NASDAQ:RDFN) Trading 6.4% Higher

Redfin Corp (NASDAQ:RDFN) traded up 6.4% during trading on Wednesday . The company traded as high as $16.34 and last traded at $17.24, 107,272 shares changed hands during trading. A decline of 95% from the average session volume of 2,380,856 shares. The stock had previously closed at $16.20.

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of Redfin in a research report on Thursday, February 13th. SunTrust Banks increased their target price on Redfin to $30.00 and gave the company a “positive” rating in a research report on Thursday, February 13th. BidaskClub downgraded Redfin from a “buy” rating to a “hold” rating in a research report on Tuesday. KeyCorp assumed coverage on Redfin in a research report on Friday, February 28th. They set a “sector weight” rating for the company. Finally, Zacks Investment Research downgraded Redfin from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $25.27.

The company has a market capitalization of $1.51 billion, a P/E ratio of -21.11 and a beta of 0.99. The business has a 50-day moving average of $24.23 and a 200-day moving average of $20.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.30 and a quick ratio of 4.43.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $233.20 million during the quarter, compared to the consensus estimate of $217.17 million. Redfin had a negative return on equity of 25.14% and a negative net margin of 10.36%. Redfin’s revenue was up 87.9% on a year-over-year basis. During the same period last year, the company earned ($0.14) earnings per share. Sell-side analysts predict that Redfin Corp will post -0.7 EPS for the current fiscal year.

In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $24.59, for a total value of $73,770.00. Following the sale, the chief financial officer now owns 11,306 shares in the company, valued at $278,014.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Adam Wiener sold 25,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $23.20, for a total value of $580,000.00. Following the completion of the sale, the insider now owns 197,842 shares in the company, valued at approximately $4,589,934.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,500 shares of company stock valued at $1,790,240. 8.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its stake in Redfin by 35.8% in the fourth quarter. Baillie Gifford & Co. now owns 8,001,769 shares of the company’s stock worth $169,158,000 after purchasing an additional 2,110,499 shares during the period. Jackson Square Partners LLC increased its stake in shares of Redfin by 1.9% during the fourth quarter. Jackson Square Partners LLC now owns 7,057,900 shares of the company’s stock valued at $149,204,000 after buying an additional 128,347 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Redfin by 464.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,952,429 shares of the company’s stock valued at $41,274,000 after buying an additional 1,606,594 shares during the period. State Street Corp increased its stake in shares of Redfin by 3.0% during the fourth quarter. State Street Corp now owns 1,784,041 shares of the company’s stock valued at $37,715,000 after buying an additional 52,447 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of Redfin by 396.6% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,705,523 shares of the company’s stock valued at $36,055,000 after buying an additional 1,362,077 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Redfin Company Profile (NASDAQ:RDFN)

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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