Redfin (NASDAQ:RDFN) Shares Up 8.7%

Shares of Redfin Co. (NASDAQ:RDFN) rose 8.7% on Friday . The company traded as high as $5.65 and last traded at $5.63. Approximately 967,889 shares were traded during trading, a decline of 81% from the average daily volume of 5,139,923 shares. The stock had previously closed at $5.18.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RDFN shares. Wedbush reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research report on Wednesday, February 28th. DA Davidson reaffirmed a “neutral” rating and set a $6.75 target price on shares of Redfin in a report on Friday, March 22nd. Citigroup lowered their price target on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Gordon Haskett cut Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price objective for the company. in a report on Thursday, February 29th. Finally, Royal Bank of Canada dropped their price target on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.92.

Redfin Trading Up 8.5 %

The business’s fifty day moving average is $6.36 and its 200-day moving average is $7.15. 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 firm has a market cap of $670.13 million, a P/E ratio of -4.77 and a beta of 2.66.

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

Insider Buying and Selling

In other Redfin news, insider Anna Stevens sold 10,851 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the sale, the insider now owns 15,477 shares in the company, valued at approximately $104,934.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Redfin news, insider Christian John Taubman sold 7,916 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $359,607.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anna Stevens sold 10,851 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Redfin

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Redfin by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 17,238,307 shares of the company’s stock valued at $177,899,000 after acquiring an additional 1,260,746 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of Redfin by 208.8% in the 4th quarter. Trexquant Investment LP now owns 617,880 shares of the company’s stock valued at $6,377,000 after purchasing an additional 417,811 shares during the period. HST Ventures LLC bought a new stake in shares of Redfin during the 4th quarter valued at about $4,086,000. Qube Research & Technologies Ltd grew its stake in Redfin by 144.0% during the third quarter. Qube Research & Technologies Ltd now owns 499,577 shares of the company’s stock worth $3,517,000 after purchasing an additional 294,802 shares during the period. Finally, TB Alternative Assets Ltd. acquired a new stake in Redfin during the fourth quarter worth approximately $2,050,000. Institutional investors own 61.07% of the company’s stock.

About Redfin

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.