Redfin Co. (NASDAQ:RDFN – Get Rating) – Research analysts at Oppenheimer reduced their FY2022 earnings per share estimates for shares of Redfin in a report released on Monday, November 14th. Oppenheimer analyst J. Helfstein now expects that the company will earn ($3.57) per share for the year, down from their previous forecast of ($3.21). Oppenheimer currently has a “Underperform” rating on the stock. The consensus estimate for Redfin’s current full-year earnings is ($3.24) per share. Oppenheimer also issued estimates for Redfin’s Q4 2022 earnings at ($1.15) EPS, Q1 2023 earnings at ($0.52) EPS, Q2 2023 earnings at ($0.29) EPS, Q3 2023 earnings at ($0.31) EPS, Q4 2023 earnings at ($0.31) EPS, FY2023 earnings at ($1.44) EPS, FY2024 earnings at ($1.03) EPS and FY2025 earnings at ($0.49) EPS.
RDFN has been the topic of several other research reports. Evercore ISI cut their price target on Redfin to $5.00 in a report on Tuesday. Stephens cut their price target on Redfin to $4.00 in a report on Wednesday. Royal Bank of Canada cut their price target on Redfin from $10.00 to $5.00 and set a “sector perform” rating on the stock in a report on Thursday, November 10th. Truist Financial lowered their price objective on Redfin from $16.00 to $10.00 in a research note on Thursday, November 10th. Finally, Susquehanna Bancshares lowered their price objective on Redfin to $4.50 in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.27.
Redfin Stock Down 0.4 %
Redfin (NASDAQ:RDFN – Get Rating) last announced its earnings results on Wednesday, November 9th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.02. The company had revenue of $600.52 million for the quarter, compared to analyst estimates of $601.69 million. Redfin had a negative return on equity of 135.08% and a negative net margin of 11.69%.
Insider Activity at Redfin
In related news, insider Anthony Ray Kappus sold 21,675 shares of the stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $6.17, for a total transaction of $133,734.75. Following the completion of the sale, the insider now directly owns 12,399 shares of the company’s stock, valued at $76,501.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director James Slavet acquired 6,667 shares of Redfin stock in a transaction on Monday, October 3rd. The stock was acquired at an average cost of $5.81 per share, with a total value of $38,735.27. Following the completion of the acquisition, the director now owns 209,213 shares in the company, valued at $1,215,527.53. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony Ray Kappus sold 21,675 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $6.17, for a total value of $133,734.75. Following the transaction, the insider now directly owns 12,399 shares of the company’s stock, valued at $76,501.83. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Redfin
Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new position in Redfin during the second quarter valued at $25,000. Great West Life Assurance Co. Can bought a new position in shares of Redfin in the third quarter worth $26,000. Guggenheim Capital LLC bought a new position in shares of Redfin in the third quarter worth $60,000. RFG Advisory LLC boosted its holdings in shares of Redfin by 18.3% in the third quarter. RFG Advisory LLC now owns 20,351 shares of the company’s stock worth $76,000 after acquiring an additional 3,150 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Redfin in the first quarter worth $83,000. 90.79% of the stock is owned by institutional investors.
Redfin Company Profile
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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