Compass Point Reaffirms “Neutral” Rating for Redfin (NASDAQ:RDFN)

Compass Point reissued their neutral rating on shares of Redfin (NASDAQ:RDFNGet Rating) in a report published on Tuesday, Stock Target Advisor reports. Compass Point currently has a $8.50 price target on the stock.

A number of other brokerages have also recently issued reports on RDFN. Truist Financial decreased their target price on Redfin from $42.00 to $31.00 in a research report on Friday, May 6th. The Goldman Sachs Group dropped their price objective on Redfin from $20.00 to $17.50 and set a neutral rating for the company in a research note on Tuesday, April 19th. Susquehanna Bancshares lowered their target price on Redfin from $25.00 to $13.00 in a report on Monday, May 9th. Piper Sandler decreased their price objective on Redfin from $11.00 to $10.00 in a report on Friday, May 6th. Finally, Susquehanna reduced their target price on Redfin from $25.00 to $13.00 in a report on Monday, May 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Redfin presently has an average rating of Hold and an average price target of $29.77.

Shares of RDFN opened at $9.03 on Tuesday. The company has a current ratio of 3.66, a quick ratio of 2.84 and a debt-to-equity ratio of 5.26. Redfin has a 12 month low of $7.13 and a 12 month high of $65.41. The stock’s 50 day moving average is $10.73 and its two-hundred day moving average is $21.73. The firm has a market cap of $967.78 million, a P/E ratio of -5.57 and a beta of 2.00.

Redfin (NASDAQ:RDFNGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.23. Redfin had a negative return on equity of 53.87% and a negative net margin of 7.31%. The firm had revenue of $597.30 million for the quarter, compared to analyst estimates of $553.97 million. During the same period in the previous year, the company posted ($0.37) earnings per share. The business’s revenue was up 122.6% on a year-over-year basis. Equities research analysts forecast that Redfin will post -2.12 EPS for the current year.

In other news, CEO Glenn Kelman sold 15,000 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were 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 of the company’s stock, valued at $13,419,441.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher John Nielsen sold 4,500 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $8.15, for a total transaction of $36,675.00. Following the transaction, the chief financial officer now directly owns 73,786 shares of the company’s stock, valued at approximately $601,355.90. The disclosure for this sale can be found here. Insiders have sold 39,000 shares of company stock valued at $418,695 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

A number of large investors have recently bought and sold shares of RDFN. Bares Capital Management Inc. grew its stake in shares of Redfin by 23.5% during the fourth quarter. Bares Capital Management Inc. now owns 12,848,888 shares of the company’s stock valued at $493,269,000 after purchasing an additional 2,444,167 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Redfin by 45.9% in the third quarter. Janus Henderson Group PLC now owns 6,232,964 shares of the company’s stock valued at $312,271,000 after acquiring an additional 1,960,917 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Redfin by 82.2% in the third quarter. Bank of New York Mellon Corp now owns 2,472,823 shares of the company’s stock valued at $123,889,000 after acquiring an additional 1,115,726 shares during the last quarter. Contour Asset Management LLC boosted its stake in Redfin by 28.8% in the fourth quarter. Contour Asset Management LLC now owns 2,152,231 shares of the company’s stock valued at $82,624,000 after acquiring an additional 481,277 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Redfin by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,047,689 shares of the company’s stock worth $78,610,000 after purchasing an additional 40,225 shares during the period. 97.94% of the stock is owned by hedge funds and other institutional investors.

About Redfin (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)

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