Redfin (RDFN) Shares Gap Down to $23.88

Redfin (NASDAQ:RDFN) shares gapped down prior to trading on Friday . The stock had previously closed at $24.88, but opened at $23.88. Redfin shares last traded at $22.71, with a volume of 2791501 shares traded.

Several research analysts have recently commented on RDFN shares. BidaskClub downgraded Redfin from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Piper Jaffray raised their price objective on Redfin from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada raised Redfin from a “sector perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a research note on Friday, February 2nd. They noted that the move was a valuation call. Zacks Investment Research downgraded Redfin from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Finally, Jefferies Group initiated coverage on Redfin in a research report on Tuesday, February 6th. They set a “buy” rating and a $28.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Redfin presently has an average rating of “Hold” and an average price target of $25.92.

How to Become a New Pot Stock Millionaire

Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, February 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $95.80 million for the quarter, compared to analysts’ expectations of $91.59 million. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. analysts forecast that Redfin will post -0.2 EPS for the current fiscal year.

In other Redfin news, CTO Bridget Frey sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.66, for a total transaction of $103,300.00. Following the completion of the transaction, the chief technology officer now owns 42,083 shares in the company, valued at approximately $869,434.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Wiener sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $22.27, for a total value of $222,700.00. Following the transaction, the insider now owns 279,649 shares of the company’s stock, valued at approximately $6,227,783.23. The disclosure for this sale can be found here. Insiders have sold 65,000 shares of company stock valued at $1,388,550 in the last quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDFN. SG Americas Securities LLC purchased a new position in Redfin during the 3rd quarter valued at approximately $139,000. MetLife Investment Advisors LLC purchased a new position in Redfin during the 4th quarter valued at approximately $155,000. Wells Fargo & Company MN purchased a new position in Redfin during the 3rd quarter valued at approximately $158,000. American International Group Inc. purchased a new position in Redfin during the 3rd quarter valued at approximately $181,000. Finally, Needham Investment Management LLC purchased a new position in Redfin during the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds own 52.44% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Redfin (RDFN) Shares Gap Down to $23.88” was posted by Week Herald and is owned by of Week Herald. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://weekherald.com/2018/04/22/redfin-rdfn-shares-gap-down-to-23-88.html.

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, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

Receive News & Ratings for Redfin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redfin and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply