Redfin (NASDAQ:RDFN) Shares Up 8.7%

Shares of Redfin Co. (NASDAQ:RDFN) traded up 8.7% on Thursday . The stock traded as high as $6.75 and last traded at $6.74. 935,009 shares changed hands during trading, a decline of 82% from the average session volume of 5,328,155 shares. The stock had previously closed at $6.20.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. DA Davidson restated a “neutral” rating and set a $6.75 price objective on shares of Redfin in a research report on Friday, March 22nd. Citigroup dropped their price objective on Redfin from $10.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Gordon Haskett cut Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price for the company. in a report on Thursday, February 29th. Wedbush reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Redfin in a report on Wednesday, February 28th. Finally, B. Riley initiated coverage on Redfin in a report on Friday, December 8th. They issued a “neutral” rating and a $8.00 target price for the company. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, Redfin has a consensus rating of “Hold” and an average target price of $7.92.

Redfin Trading Up 8.5 %

The company has a market cap of $802.49 million, a price-to-earnings ratio of -5.76 and a beta of 2.67. The firm has a 50 day moving average price of $7.27 and a two-hundred day moving average price of $7.38. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91.

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

Insider Buying and Selling

In related news, insider Christian John Taubman sold 7,916 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the sale, the insider now owns 52,117 shares of the company’s stock, valued at $359,607.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Redfin news, insider Anna Stevens sold 10,851 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the transaction, the insider now owns 15,477 shares in the company, valued at $104,934.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christian John Taubman sold 7,916 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value 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 disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale bought a new position in shares of Redfin in the third quarter valued at approximately $27,000. DHJJ Financial Advisors Ltd. bought a new stake in Redfin during the third quarter worth $28,000. Point72 Middle East FZE bought a new stake in Redfin during the fourth quarter worth $41,000. Garner Asset Management Corp purchased a new stake in Redfin in the fourth quarter worth $59,000. Finally, Guggenheim Capital LLC purchased a new position in shares of Redfin during the 3rd quarter valued at $60,000. 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.