Redfin Corp (NASDAQ:RDFN) – Equities researchers at Piper Jaffray Companies increased their FY2019 earnings per share estimates for Redfin in a research report issued on Monday, April 1st, according to Zacks Investment Research. Piper Jaffray Companies analyst J. Deleeuw now anticipates that the company will post earnings of ($0.94) per share for the year, up from their prior estimate of ($0.99). Piper Jaffray Companies has a “Overweight” rating and a $26.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Redfin’s Q4 2019 earnings at ($0.17) EPS, Q4 2020 earnings at ($0.13) EPS and FY2020 earnings at ($0.74) EPS.
A number of other equities analysts also recently issued reports on RDFN. TheStreet upgraded Redfin from a “d” rating to a “c-” rating in a research note on Thursday, April 18th. Zacks Investment Research raised Redfin from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, January 30th. ValuEngine raised Redfin from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Wedbush initiated coverage on Redfin in a report on Thursday, April 11th. They issued an “outperform” rating and a $30.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Redfin currently has a consensus rating of “Hold” and a consensus price target of $21.69.
Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Thursday, February 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. The firm had revenue of $124.10 million for the quarter, compared to the consensus estimate of $117.15 million. Redfin had a negative return on equity of 14.24% and a negative net margin of 8.62%. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS.
In other news, insider Adam Wiener sold 7,500 shares of Redfin stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $23.00, for a total value of $172,500.00. Following the sale, the insider now directly owns 145,849 shares of the company’s stock, valued at $3,354,527. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Nagel sold 13,333 shares of Redfin stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $21.92, for a total value of $292,259.36. Following the completion of the sale, the insider now directly owns 136,667 shares in the company, valued at $2,995,740.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,973 shares of company stock worth $1,518,107. Insiders own 8.80% of the company’s stock.
Several hedge funds have recently modified their holdings of RDFN. Bank of New York Mellon Corp increased its holdings in shares of Redfin by 30.3% in the second quarter. Bank of New York Mellon Corp now owns 234,436 shares of the company’s stock worth $5,413,000 after purchasing an additional 54,462 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Redfin in the third quarter worth about $636,000. SG Americas Securities LLC bought a new stake in shares of Redfin in the third quarter worth about $284,000. Janus Henderson Group PLC increased its holdings in shares of Redfin by 69.0% in the third quarter. Janus Henderson Group PLC now owns 1,380,983 shares of the company’s stock worth $25,824,000 after purchasing an additional 563,900 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Redfin by 33.8% in the third quarter. BlackRock Inc. now owns 4,953,847 shares of the company’s stock worth $92,637,000 after purchasing an additional 1,251,210 shares during the last quarter. 94.81% of the stock is currently owned by hedge funds and other institutional investors.
Redfin Company Profile
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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