Investment Analysts’ Weekly Ratings Changes for Redfin (RDFN)

A number of research firms have changed their ratings and price targets for Redfin (NASDAQ: RDFN):

  • 5/9/2022 – Redfin had its price target lowered by analysts at Susquehanna Bancshares, Inc. from $25.00 to $13.00.
  • 5/9/2022 – Redfin had its price target lowered by analysts at Susquehanna from $25.00 to $13.00.
  • 5/6/2022 – Redfin had its price target lowered by analysts at Truist Financial Co. from $42.00 to $31.00.
  • 5/6/2022 – Redfin had its price target lowered by analysts at Piper Sandler from $11.00 to $10.00.
  • 5/5/2022 – Redfin was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Redfin Corporation is engaged in providing residential real estate search and brokerage services. The Company provides an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services and originate mortgages. Redfin Corporation is headquartered in Seattle, Washington. “
  • 4/28/2022 – Redfin was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Redfin Corporation is engaged in providing residential real estate search and brokerage services. The Company provides an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services and originate mortgages. Redfin Corporation is headquartered in Seattle, Washington. “
  • 4/26/2022 – Redfin was downgraded by analysts at Piper Sandler from an “overweight” rating to an “underweight” rating. They now have a $11.00 price target on the stock, down previously from $40.00.
  • 4/19/2022 – Redfin had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $20.00 to $17.50. They now have a “neutral” rating on the stock.
  • 3/30/2022 – Redfin is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “neutral” rating and a $20.00 price target on the stock.

Shares of Redfin stock traded down $0.68 on Wednesday, reaching $10.48. The stock had a trading volume of 87,209 shares, compared to its average volume of 3,675,516. Redfin Co. has a 1 year low of $8.65 and a 1 year high of $65.41. The company has a market cap of $1.12 billion, a P/E ratio of -6.47 and a beta of 1.99. The company has a current ratio of 3.10, a quick ratio of 2.21 and a debt-to-equity ratio of 3.92. The business’s 50 day moving average is $15.25 and its two-hundred day moving average is $28.27.

Redfin (NASDAQ:RDFNGet Rating) last issued its quarterly earnings data 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. The company had revenue of $597.30 million for the quarter, compared to the consensus estimate of $553.97 million. Redfin had a negative return on equity of 50.39% and a negative net margin of 7.31%. The firm’s revenue was up 122.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.37) earnings per share. On average, equities analysts anticipate that Redfin Co. will post -2.04 EPS for the current fiscal year.

In other news, CFO Christopher John Nielsen sold 4,500 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $14.16, for a total transaction of $63,720.00. Following the sale, the chief financial officer now owns 69,140 shares in the company, valued at $979,022.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert J. Mylod, Jr. sold 2,750 shares of the stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $22.30, for a total value of $61,325.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,000 shares of company stock worth $1,443,355. 6.10% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in RDFN. Bares Capital Management Inc. lifted its holdings in shares of Redfin by 23.5% in the fourth quarter. Bares Capital Management Inc. now owns 12,848,888 shares of the company’s stock worth $493,269,000 after buying an additional 2,444,167 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Redfin by 4.0% in the third quarter. BlackRock Inc. now owns 7,388,306 shares of the company’s stock worth $370,155,000 after buying an additional 282,111 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Redfin by 45.9% in the third quarter. Janus Henderson Group PLC now owns 6,232,964 shares of the company’s stock worth $312,271,000 after buying an additional 1,960,917 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 worth $123,889,000 after buying an additional 1,115,726 shares in the last quarter. Finally, Contour Asset Management LLC lifted its position in shares of Redfin by 28.8% in the fourth quarter. Contour Asset Management LLC now owns 2,152,231 shares of the company’s stock worth $82,624,000 after buying an additional 481,277 shares in the last quarter. Institutional investors own 97.94% of the company’s stock.

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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