B. Riley Securities has recently raised Redfin Corp (RDFN) stock to Buy rating, as announced on September 3, 2024, according to Finviz. Earlier, on May 8, 2024, Stephens had raised the stock, setting a price target of $9 for RDFN stock. Gordon Haskett also reduced Underperform rating with a price target of $5.50. Additionally, B. Riley Securities initiated Neutral rating on December 8, 2023, with a target price of $8. DA Davidson analysts, in their report published on September 28, 2023, also raised Neutral rating and set a price target of $8.50 for Redfin Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Redfin Corp (RDFN) Stock Trading Recap
On Tuesday, Redfin Corp (RDFN) stock saw a modest uptick, ending the day at $11.01 which represents a slight increase of $0.57 or 5.46% from the prior close of $10.44. The stock opened at $10.33 and touched a low of $10.22 during the day, reaching a high of $11.02. The volume of shares traded was 3.90 million falling short of the average volume of 6.79 million.
RDFN Stock Performance and Moving Averages
In recent trading, Redfin Corp (RDFN) stock price has shown some volatility, fluctuating 13.39% over the last five trades and 6.69% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 72.84%, and it has gained 72.03% in the previous three months. Currently, RDFN is trading at 5.06%, -1.25%, and 37.90% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, RDFN, a Real Estate sector stock, is trading -27.99% below its 52-week high but remains 115.88% above its 52-week low. The Average True Range (ATR) (14 days) of 0.73 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Redfin Corp’s Profitability and Valuation Ratios
Redfin Corp’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -16.37% and a profit margin of -13.64%, with a gross margin of 72.84%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Redfin Corp’s market capitalization stands at $1.34 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 1.33, reflecting the market’s valuation of the company’s sales.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 4.37% of Redfin Corp (RDFN)’s shares, while financial institutions hold 60.99%.
Notable insider trades include Frey Bridget, Chief Technology Officer at Redfin Corp (RDFN), who sold 17039 shares on Aug 23 ’24, at $10 each, totaling $0.17 million. On Dec 14 ’23, Frey Bridget, Chief Technology Officer, sold 25915 shares for $9.42 each, amounting to $0.24 million. Additionally, on Nov 30 ’23, STEVENS ANNA sold 55402 shares at $7.1 each, generating $0.39 million.
