Redfin Corp (NASDAQ:RDFN) – Equities research analysts at Wedbush increased their Q3 2019 earnings estimates for Redfin in a report released on Thursday, May 9th. Wedbush analyst Y. Arounian now expects that the company will post earnings per share of $0.09 for the quarter, up from their previous forecast of $0.07. Wedbush has a “Outperform” rating and a $30.00 price target on the stock.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.74) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.01. Redfin had a negative net margin of 14.06% and a negative return on equity of 22.64%. The company had revenue of $110.10 million for the quarter, compared to the consensus estimate of $103.97 million. During the same period in the prior year, the firm posted ($0.44) EPS. The company’s quarterly revenue was up 37.8% compared to the same quarter last year.
RDFN has been the topic of a number of other reports. BidaskClub raised shares of Redfin from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 27th. Piper Jaffray Companies raised shares of Redfin from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $17.00 to $26.00 in a research report on Monday, April 1st. Zacks Investment Research raised shares of Redfin from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Thursday, February 14th. Compass Point started coverage on shares of Redfin in a research report on Thursday, January 24th. They issued a “buy” rating and a $20.50 price objective on the stock. Finally, Susquehanna Bancshares reissued a “neutral” rating on shares of Redfin in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $21.63.
Shares of NASDAQ:RDFN opened at $17.35 on Monday. Redfin has a 52 week low of $13.50 and a 52 week high of $26.01. The company has a current ratio of 4.73, a quick ratio of 10.25 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -35.41 and a beta of 0.91.
In related news, insider Bridget Frey sold 6,381 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $19.76, for a total value of $126,088.56. Following the transaction, the insider now directly owns 44,313 shares of the company’s stock, valued at approximately $875,624.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Wiener sold 7,500 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the completion of the transaction, the insider now directly owns 145,849 shares in the company, valued at $3,354,527. The disclosure for this sale can be found here. Insiders sold a total of 73,784 shares of company stock worth $1,543,936 over the last ninety days. Insiders own 8.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of RDFN. Vanguard Group Inc. boosted its stake in Redfin by 29.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,056,148 shares of the company’s stock worth $150,651,000 after purchasing an additional 1,836,101 shares during the period. Jackson Square Partners LLC boosted its stake in Redfin by 6.9% during the 1st quarter. Jackson Square Partners LLC now owns 6,490,949 shares of the company’s stock worth $131,571,000 after purchasing an additional 417,458 shares during the period. BlackRock Inc. boosted its stake in Redfin by 5.3% during the 4th quarter. BlackRock Inc. now owns 5,214,205 shares of the company’s stock worth $75,084,000 after purchasing an additional 260,358 shares during the period. Baillie Gifford & Co. boosted its stake in Redfin by 1.4% during the 1st quarter. Baillie Gifford & Co. now owns 4,747,382 shares of the company’s stock worth $96,229,000 after purchasing an additional 63,333 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Redfin by 13.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,146,064 shares of the company’s stock worth $16,503,000 after purchasing an additional 138,058 shares during the period. 92.55% 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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