Redfin (NASDAQ:RDFN) Upgraded to Buy by Compass Point

Compass Point upgraded shares of Redfin (NASDAQ:RDFN) from a neutral rating to a buy rating in a research report sent to investors on Friday, BenzingaRatingsTable reports.

Other equities research analysts have also issued reports about the company. TheStreet lowered Redfin from a c- rating to a d+ rating in a research report on Tuesday, May 14th. Susquehanna Bancshares raised Redfin from a neutral rating to a positive rating and set a $23.00 price target on the stock in a research report on Wednesday, July 17th. Zacks Investment Research lowered Redfin from a buy rating to a hold rating in a research report on Tuesday, May 14th. Craig Hallum assumed coverage on Redfin in a research report on Monday, July 29th. They set a hold rating and a $20.00 price target on the stock. Finally, Stephens raised Redfin from an underweight rating to an overweight rating and upped their price target for the company from $18.00 to $23.00 in a research report on Monday, June 10th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $22.53.

Shares of Redfin stock traded up $1.94 on Friday, reaching $19.66. 3,818,809 shares of the company were exchanged, compared to its average volume of 793,243. The business has a fifty day simple moving average of $17.86. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -40.12 and a beta of 1.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.73 and a quick ratio of 4.36. Redfin has a fifty-two week low of $13.50 and a fifty-two week high of $24.37.

Redfin (NASDAQ:RDFN) last announced its earnings results on Thursday, August 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $197.80 million for the quarter, compared to analyst estimates of $190.35 million. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. Redfin’s revenue for the quarter was up 38.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 earnings per share. As a group, research analysts anticipate that Redfin will post -0.96 EPS for the current year.

In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $17.35, for a total value of $52,050.00. Following the transaction, the chief financial officer now owns 8,542 shares in the company, valued at $148,203.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Wiener sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $17.73, for a total value of $88,650.00. Following the completion of the transaction, the insider now owns 250,503 shares in the company, valued at approximately $4,441,418.19. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock worth $391,100 over the last three months. 8.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Hamilton Lane Advisors LLC purchased a new position in Redfin in the first quarter valued at about $1,994,000. Geode Capital Management LLC grew its stake in Redfin by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 803,800 shares of the company’s stock valued at $11,574,000 after purchasing an additional 58,302 shares in the last quarter. Peregrine Asset Advisers Inc. purchased a new position in Redfin in the first quarter valued at about $3,750,000. Metropolitan Life Insurance Co. NY grew its stake in Redfin by 376.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,249 shares of the company’s stock valued at $364,000 after purchasing an additional 19,945 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Redfin by 13.8% in the first quarter. Clearbridge Investments LLC now owns 677,509 shares of the company’s stock valued at $13,733,000 after purchasing an additional 82,008 shares in the last quarter. Hedge funds and other institutional investors own 94.34% 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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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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