B. Riley Increases Redfin (NASDAQ:RDFN) Price Target to $15.00

Redfin (NASDAQ:RDFN) had its price target raised by equities researchers at B. Riley from $13.00 to $15.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price indicates a potential upside of 19.52% from the company’s previous close.

RDFN has been the subject of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Redfin in a report on Wednesday, August 7th. DA Davidson reaffirmed a “neutral” rating and set a $7.25 target price on shares of Redfin in a report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Susquehanna cut their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Redfin presently has a consensus rating of “Hold” and a consensus target price of $7.88.

Redfin Trading Up 0.2 %

Shares of NASDAQ:RDFN opened at $12.55 on Monday. The company has a market cap of $1.50 billion, a P/E ratio of -10.55 and a beta of 2.66. The stock’s 50-day moving average is $9.92 and its 200-day moving average is $7.63. Redfin has a 52-week low of $4.26 and a 52-week high of $15.29. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.48 and a current ratio of 1.48.

Redfin (NASDAQ:RDFN) last released its earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $295.20 million for the quarter, compared to the consensus estimate of $291.59 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business earned ($0.25) earnings per share. Equities research analysts predict that Redfin will post -1.13 earnings per share for the current year.

Insider Transactions at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the completion of the sale, the insider now directly owns 71,720 shares in the company, valued at $663,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Redfin

A number of hedge funds have recently modified their holdings of the business. Mather Group LLC. raised its position in shares of Redfin by 282.1% during the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after buying an additional 2,821 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Redfin by 205.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after acquiring an additional 3,101 shares during the period. EntryPoint Capital LLC purchased a new position in Redfin during the first quarter valued at approximately $58,000. New York State Teachers Retirement System purchased a new position in Redfin during the first quarter valued at approximately $66,000. Finally, First Trust Direct Indexing L.P. purchased a new position in Redfin during the first quarter valued at approximately $72,000. Institutional investors own 61.07% of the company’s stock.

About Redfin

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.