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

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

Several other analysts have also weighed in on RDFN. Zacks Investment Research lowered shares of Redfin from a buy rating to a hold rating in a research note on Tuesday, May 14th. Craig Hallum assumed coverage on shares of Redfin in a research note on Monday, July 29th. They set a hold rating and a $20.00 price target for the company. TheStreet lowered shares of Redfin from a c- rating to a d+ rating in a research note on Tuesday, May 14th. Cowen set a $24.00 price target on shares of Redfin and gave the company a buy rating in a research note on Friday, June 21st. Finally, ValuEngine upgraded shares of Redfin from a hold rating to a buy rating in a research note on Thursday, August 1st. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $22.53.

NASDAQ:RDFN opened at $18.85 on Friday. The company has a fifty day moving average of $17.94. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.91 and a quick ratio of 3.19. Redfin has a twelve month low of $13.50 and a twelve month high of $23.73.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $197.80 million during the quarter, compared to analyst estimates of $190.35 million. Redfin had a negative net margin of 15.47% and a negative return on equity of 25.83%. Redfin’s revenue for the quarter was up 38.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 EPS. Analysts forecast that Redfin will post -0.96 EPS for the current fiscal year.

In other Redfin news, insider Adam Wiener sold 5,000 shares of Redfin stock in a transaction on Monday, June 17th. The shares were sold at an average price of $18.03, for a total transaction of $90,150.00. Following the transaction, the insider now directly owns 255,503 shares of the company’s stock, valued at approximately $4,606,719.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher John Nielsen sold 3,000 shares of Redfin stock in a transaction on Monday, July 15th. The stock was sold at an average price of $17.35, for a total transaction of $52,050.00. Following the transaction, the chief financial officer now directly owns 8,542 shares in the company, valued at $148,203.70. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock valued at $391,100 in the last 90 days. 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. Hamilton Lane Advisors LLC purchased a new position in shares of Redfin in the 1st quarter worth about $1,994,000. Geode Capital Management LLC boosted its holdings in shares of Redfin by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 803,800 shares of the company’s stock worth $11,574,000 after buying an additional 58,302 shares during the last quarter. Peregrine Asset Advisers Inc. purchased a new position in shares of Redfin in the 1st quarter worth about $3,750,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Redfin by 376.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 25,249 shares of the company’s stock worth $364,000 after buying an additional 19,945 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Redfin by 13.8% in the 1st quarter. Clearbridge Investments LLC now owns 677,509 shares of the company’s stock worth $13,733,000 after buying an additional 82,008 shares during the last quarter. 94.26% 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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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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