Redfin (RDFN) PT Set at $21.00 by Cowen

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Cowen set a $21.00 target price on Redfin (NASDAQ:RDFN) in a research report report published on Friday morning. The brokerage currently has a buy rating on the stock.

RDFN has been the subject of a number of other reports. BidaskClub raised Redfin from a sell rating to a hold rating in a research report on Thursday, October 18th. Zacks Investment Research raised Redfin from a sell rating to a hold rating in a research report on Tuesday, August 14th. Macquarie began coverage on Redfin in a research report on Monday, September 17th. They set a neutral rating and a $20.00 price objective for the company. William Blair reaffirmed an outperform rating on shares of Redfin in a research report on Friday, August 10th. Finally, DA Davidson cut Redfin from a buy rating to a hold rating and set a $22.00 price objective for the company. in a research report on Friday, August 10th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Redfin presently has a consensus rating of Hold and a consensus target price of $23.42.

Shares of NASDAQ RDFN traded up $0.21 during trading hours on Friday, reaching $15.06. The stock had a trading volume of 3,650,558 shares, compared to its average volume of 1,071,200. The stock has a market cap of $1.37 billion, a PE ratio of -75.30 and a beta of -0.63. Redfin has a fifty-two week low of $13.50 and a fifty-two week high of $31.50.

Redfin (NASDAQ:RDFN) last announced its earnings results on Thursday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Redfin had a negative return on equity of 10.83% and a negative net margin of 15.12%. The firm had revenue of $140.30 million during the quarter, compared to analysts’ expectations of $139.45 million. During the same period in the prior year, the firm earned $0.12 EPS. The business’s revenue was up 28.1% on a year-over-year basis. As a group, research analysts forecast that Redfin will post -0.43 EPS for the current year.

In other news, CFO Christopher John Nielsen sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $17.80, for a total value of $178,000.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $178,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Nagel sold 6,250 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $16.44, for a total value of $102,750.00. Following the completion of the sale, the insider now directly owns 14,583 shares of the company’s stock, valued at $239,744.52. The disclosure for this sale can be found here. Insiders sold a total of 57,290 shares of company stock valued at $1,005,361 over the last three months. Insiders own 8.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of RDFN. Great West Life Assurance Co. Can acquired a new stake in shares of Redfin in the 2nd quarter valued at approximately $106,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Redfin in the 3rd quarter valued at approximately $139,000. Caption Management LLC acquired a new stake in shares of Redfin in the 2nd quarter valued at approximately $191,000. Perkins Coie Trust Co lifted its holdings in shares of Redfin by 52.4% in the 2nd quarter. Perkins Coie Trust Co now owns 8,648 shares of the company’s stock valued at $200,000 after buying an additional 2,972 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Redfin in the 2nd quarter valued at approximately $211,000. 78.16% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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