Redfin (NASDAQ:RDFN) Shares Up 6.4%

Shares of Redfin Corp (NASDAQ:RDFN) shot up 6.4% during trading on Wednesday . The company traded as high as $16.34 and last traded at $17.24, 107,272 shares traded hands during trading. A decline of 95% from the average session volume of 2,380,856 shares. The stock had previously closed at $16.20.

A number of brokerages have recently commented on RDFN. Stephens boosted their target price on shares of Redfin from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Redfin in a report on Thursday, February 13th. Oppenheimer boosted their target price on shares of Redfin from $24.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. ValuEngine cut shares of Redfin from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Needham & Company LLC upgraded shares of Redfin from an “underperform” rating to a “hold” rating in a report on Tuesday. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.27.

The company has a market cap of $1.51 billion, a P/E ratio of -21.11 and a beta of 0.99. The stock’s 50 day moving average is $24.23 and its 200-day moving average is $20.95. The company has a current ratio of 5.30, a quick ratio of 4.43 and a debt-to-equity ratio of 0.54.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.04. The company had revenue of $233.20 million for the quarter, compared to analysts’ expectations of $217.17 million. Redfin had a negative net margin of 10.36% and a negative return on equity of 25.14%. Redfin’s revenue was up 87.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) EPS. As a group, sell-side analysts forecast that Redfin Corp will post -0.7 EPS for the current year.

In other Redfin news, insider Adam Wiener sold 32,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $29.08, for a total transaction of $945,100.00. Following the transaction, the insider now owns 215,342 shares in the company, valued at approximately $6,262,145.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher John Nielsen sold 4,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $21.28, for a total transaction of $85,120.00. Following the transaction, the chief financial officer now owns 12,306 shares in the company, valued at approximately $261,871.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,500 shares of company stock worth $1,790,240. 8.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in Redfin during the 4th quarter valued at about $12,505,000. Geode Capital Management LLC increased its position in shares of Redfin by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,148,879 shares of the company’s stock valued at $24,287,000 after purchasing an additional 41,955 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Redfin by 130.6% during the 4th quarter. Alliancebernstein L.P. now owns 273,706 shares of the company’s stock valued at $5,786,000 after purchasing an additional 155,000 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Redfin by 9.0% during the 4th quarter. Janus Henderson Group PLC now owns 1,351,593 shares of the company’s stock valued at $28,573,000 after purchasing an additional 111,583 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Redfin by 16.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,290 shares of the company’s stock valued at $175,000 after purchasing an additional 1,190 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Redfin Company Profile (NASDAQ:RDFN)

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

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