Redfin’s (RDFN) Neutral Rating Reaffirmed at DA Davidson

Redfin (NASDAQ:RDFN)‘s stock had its “neutral” rating reiterated by analysts at DA Davidson in a research note issued to investors on Friday, Benzinga reports. They currently have a $6.75 price target on the stock. DA Davidson’s price target points to a potential upside of 11.20% from the company’s current price.

RDFN has been the subject of several other research reports. Citigroup reduced their target price on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Gordon Haskett lowered shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price objective on the stock. in a research note on Thursday, February 29th. B. Riley began coverage on shares of Redfin in a report on Friday, December 8th. They set a “neutral” rating and a $8.00 price objective on the stock. Royal Bank of Canada lowered their target price 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. Finally, Wedbush reiterated a “neutral” rating and set a $8.00 target price on shares of Redfin in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.92.

Redfin Stock Performance

Shares of NASDAQ RDFN traded down $0.03 during mid-day trading on Friday, hitting $6.07. The company had a trading volume of 2,534,017 shares, compared to its average volume of 5,440,509. The stock has a market cap of $723.79 million, a price-to-earnings ratio of -5.09 and a beta of 2.67. Redfin has a 12 month low of $4.26 and a 12 month high of $17.68. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66. The firm’s 50 day simple moving average is $7.39 and its two-hundred day simple moving average is $7.44.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. The company had revenue of $218.08 million during the quarter, compared to the consensus estimate of $220.32 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.83) EPS. As a group, equities research analysts forecast that Redfin will post -1.31 earnings per share for the current year.

Insider Buying and Selling at Redfin

In related news, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the sale, 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 SEC, which is available through this link. In related news, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction on Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the transaction, the insider now owns 52,117 shares of the company’s stock, valued at $359,607.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anna Stevens sold 10,851 shares of Redfin stock in a transaction on 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 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. Corporate insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Redfin

A number of institutional investors have recently made changes to their positions in RDFN. DekaBank Deutsche Girozentrale purchased a new stake in Redfin during the 3rd quarter valued at $27,000. DHJJ Financial Advisors Ltd. bought a new position in shares of Redfin in the 3rd quarter worth about $28,000. Garner Asset Management Corp bought a new position in shares of Redfin in the 4th quarter worth about $59,000. Tower Research Capital LLC TRC increased its stake in shares of Redfin by 101.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,864 shares of the company’s stock worth $91,000 after acquiring an additional 4,474 shares in the last quarter. Finally, Point72 Middle East FZE bought a new stake in Redfin during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

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.