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Redfin Co. (NASDAQ:RDFN) Given Average Recommendation of “Hold” by Analysts

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Redfin Co. (NASDAQ:RDFNGet Rating) has received an average recommendation of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $27.77.

Several brokerages have recently commented on RDFN. Piper Sandler cut their price objective on Redfin from $11.00 to $10.00 in a report on Friday, May 6th. Stifel Nicolaus cut their target price on Redfin from $11.00 to $10.00 in a research note on Tuesday, June 28th. Susquehanna cut their target price on Redfin from $25.00 to $13.00 in a research note on Monday, May 9th. Compass Point reaffirmed a “neutral” rating and issued a $8.50 target price on shares of Redfin in a research note on Tuesday, June 21st. Finally, Truist Financial cut their target price on Redfin from $42.00 to $31.00 in a research note on Friday, May 6th.

Shares of NASDAQ RDFN opened at $8.96 on Friday. Redfin has a 12 month low of $7.13 and a 12 month high of $65.38. The company has a current ratio of 3.66, a quick ratio of 2.84 and a debt-to-equity ratio of 5.26. The firm has a market capitalization of $960.28 million, a price-to-earnings ratio of -5.53 and a beta of 2.00. The business has a 50-day moving average of $10.13 and a 200-day moving average of $20.27.

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Redfin (NASDAQ:RDFNGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.27. Redfin had a negative return on equity of 53.87% and a negative net margin of 7.31%. The company had revenue of $597.30 million during the quarter, compared to analyst estimates of $553.97 million. During the same quarter in the previous year, the firm earned ($0.37) earnings per share. Redfin’s revenue was up 122.6% on a year-over-year basis. On average, analysts predict that Redfin will post -2.12 earnings per share for the current year.

In related news, CEO Glenn Kelman sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $10.68, for a total transaction of $160,200.00. Following the completion of the transaction, the chief executive officer now owns 1,256,502 shares in the company, valued at $13,419,441.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Christopher John Nielsen sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $14.16, for a total value of $63,720.00. Following the transaction, the chief financial officer now owns 69,140 shares of the company’s stock, valued at approximately $979,022.40. The disclosure for this sale can be found here. Insiders sold 39,000 shares of company stock valued at $418,695 in the last quarter. Corporate insiders own 6.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Swiss National Bank raised its holdings in shares of Redfin by 0.4% during the fourth quarter. Swiss National Bank now owns 207,800 shares of the company’s stock valued at $7,977,000 after acquiring an additional 900 shares in the last quarter. Strs Ohio raised its holdings in Redfin by 3.0% in the fourth quarter. Strs Ohio now owns 24,100 shares of the company’s stock worth $925,000 after purchasing an additional 700 shares in the last quarter. ProShare Advisors LLC raised its holdings in Redfin by 38.7% in the fourth quarter. ProShare Advisors LLC now owns 39,968 shares of the company’s stock worth $1,534,000 after purchasing an additional 11,153 shares in the last quarter. Lockheed Martin Investment Management Co. bought a new position in Redfin in the fourth quarter worth $298,000. Finally, First Trust Advisors LP raised its holdings in Redfin by 20.3% in the fourth quarter. First Trust Advisors LP now owns 15,252 shares of the company’s stock worth $586,000 after purchasing an additional 2,575 shares in the last quarter. Institutional investors own 97.94% of the company’s stock.

Redfin Company Profile (Get Rating)

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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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