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

Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded Redfin from a hold rating to a buy rating in a report on Tuesday, July 24th. Stifel Nicolaus cut their price target on Redfin from $25.00 to $20.00 and set a hold rating on the stock in a report on Friday, August 10th. DA Davidson downgraded Redfin from a buy rating to a hold rating and set a $22.00 price target on the stock. in a report on Friday, August 10th. Zacks Investment Research upgraded Redfin from a sell rating to a hold rating in a report on Tuesday, August 14th. Finally, William Blair downgraded Redfin from an outperform rating to a market perform rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $23.42.

Shares of RDFN stock traded up $0.21 on Friday, hitting $15.06. The stock had a trading volume of 3,650,558 shares, compared to its average volume of 1,071,200. The company has a market capitalization of $1.37 billion, a PE ratio of -75.30 and a beta of -0.63. Redfin has a 1 year low of $13.50 and a 1 year high of $31.50.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The firm had revenue of $140.30 million for the quarter, compared to the consensus estimate of $139.45 million. Redfin had a negative return on equity of 10.83% and a negative net margin of 15.12%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 EPS. Sell-side analysts expect that Redfin will post -0.43 EPS for the current fiscal year.

In other news, insider Adam Wiener sold 10,000 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $19.09, for a total value of $190,900.00. Following the transaction, the insider now owns 218,449 shares in the company, valued at approximately $4,170,191.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bridget Frey sold 5,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $19.00, for a total value of $95,000.00. Following the completion of the transaction, the insider now owns 42,758 shares in the company, valued at approximately $812,402. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,290 shares of company stock worth $1,005,361. 8.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG increased its holdings in shares of Redfin by 3,863.7% in the 1st quarter. UBS Group AG now owns 23,465 shares of the company’s stock valued at $536,000 after acquiring an additional 22,873 shares during the last quarter. HarbourVest Partners LLC increased its holdings in shares of Redfin by 29.9% in the 2nd quarter. HarbourVest Partners LLC now owns 147,098 shares of the company’s stock valued at $3,396,000 after acquiring an additional 33,841 shares during the last quarter. Swiss National Bank purchased a new position in shares of Redfin in the 2nd quarter valued at about $1,808,000. TD Asset Management Inc. increased its holdings in shares of Redfin by 9.8% in the 2nd quarter. TD Asset Management Inc. now owns 67,012 shares of the company’s stock valued at $1,547,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Redfin in the 2nd quarter valued at about $106,000. Institutional investors and hedge funds own 78.16% of the company’s stock.

About Redfin

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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