Redfin Corp (NASDAQ:RDFN) – Equities research analysts at Piper Jaffray Companies cut their Q2 2019 EPS estimates for Redfin in a note issued to investors on Wednesday, May 8th. Piper Jaffray Companies analyst J. Deleeuw now anticipates that the company will post earnings per share of ($0.13) for the quarter, down from their previous estimate of ($0.03). Piper Jaffray Companies currently has a “Overweight” rating and a $26.00 price target on the stock. Piper Jaffray Companies also issued estimates for Redfin’s Q4 2019 earnings at ($0.21) EPS, FY2019 earnings at ($1.06) EPS, Q1 2020 earnings at ($0.67) EPS, Q2 2020 earnings at ($0.02) EPS, Q3 2020 earnings at $0.07 EPS, Q4 2020 earnings at ($0.19) EPS and FY2020 earnings at ($0.81) EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Redfin from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Thursday, February 14th. Compass Point initiated coverage on Redfin in a research note on Thursday, January 24th. They set a “buy” rating and a $20.50 price objective on the stock. BidaskClub raised Redfin from a “hold” rating to a “buy” rating in a research note on Wednesday, January 16th. Cowen reissued a “buy” rating and set a $21.00 price objective on shares of Redfin in a research note on Monday, February 4th. Finally, ValuEngine raised Redfin from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.63.
Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.75) by $0.01. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. The company had revenue of $110.10 million for the quarter, compared to analysts’ expectations of $103.97 million. During the same period in the previous year, the firm posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 37.8% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Redfin by 29.5% in the third quarter. Vanguard Group Inc. now owns 8,056,148 shares of the company’s stock valued at $150,651,000 after purchasing an additional 1,836,101 shares during the period. BlackRock Inc. boosted its holdings in shares of Redfin by 5.3% in the fourth quarter. BlackRock Inc. now owns 5,214,205 shares of the company’s stock valued at $75,084,000 after purchasing an additional 260,358 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Redfin by 1.4% in the first quarter. Baillie Gifford & Co. now owns 4,747,382 shares of the company’s stock valued at $96,229,000 after purchasing an additional 63,333 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Redfin by 13.7% in the fourth quarter. Macquarie Group Ltd. now owns 1,146,064 shares of the company’s stock valued at $16,503,000 after purchasing an additional 138,058 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Redfin by 0.9% in the first quarter. Northern Trust Corp now owns 923,851 shares of the company’s stock valued at $18,726,000 after purchasing an additional 7,807 shares during the period. Hedge funds and other institutional investors own 92.55% of the company’s stock.
In other Redfin news, insider Bridget Frey sold 6,381 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $19.76, for a total transaction of $126,088.56. Following the completion of the transaction, the insider now owns 44,313 shares in the company, valued at $875,624.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Wiener sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $18.55, for a total value of $92,750.00. Following the transaction, the insider now owns 168,349 shares of the company’s stock, valued at approximately $3,122,873.95. The disclosure for this sale can be found here. Insiders have sold 73,784 shares of company stock valued at $1,543,936 in the last 90 days. Company insiders own 8.20% of the company’s stock.
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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