Redfin Corporation (RDFN) Volatility At 8.06%, Should You Add A Position?

364 institutions hold shares in Redfin Corporation (RDFN), with 3.36M shares held by insiders accounting for 3.28% while institutional investors hold 92.31% of the company’s shares. The shares outstanding are 99.84M, and float is at 96.97M with Short Float at 6.71%. Institutions hold 89.28% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 13.96 million shares valued at $958.37 million. The investor’s holdings represent 13.64% of the RDFN Shares outstanding. As of Dec 30, 2020, the second largest holder is Durable Capital Partners LP with 8.98 million shares valued at $616.52 million to account for 8.78% of the shares outstanding. The other top investors are Baillie Gifford and Company which holds 8.62 million shares representing 8.42% and valued at over $591.35 million, while Blackrock Inc. holds 7.40% of the shares totaling 7.57 million with a market value of $519.68 million.

Redfin Corporation (NASDAQ: RDFN) is 32.16% higher on its value in year-to-date trading and has touched a low of $9.63 and a high of $98.44 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RDFN stock was last observed hovering at around $94.41 in the last trading session, with the day’s loss setting it -3.71% off its average median price target of $70.00 for the next 12 months. It is also 16.79% off the consensus price target high of $109.00 offered by 18 analysts, but current levels are -223.93% lower than the price target low of $28.00 for the same period.

Currently trading at $90.70, the stock is 7.59% and 17.18% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.25 million and changing -3.93% at the moment leaves the stock 77.97% off its SMA200. RDFN registered 186.75% gain for a year compared to 6-month gain of 91.19%. The firm has a 50-day simple moving average (SMA 50) of $80.86 and a 200-day simple moving average (SMA200) of $58.47.

The stock witnessed a 20.50% loss in the last 1 month and extending the period to 3 months gives it a 109.57%, and is -0.78% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.06% over the week and 6.49% over the month.

Redfin Corporation (RDFN) has around 3377 employees, a market worth around $8.29B and $874.80M in sales. Profit margin for the company is -10.90%. Distance from 52-week low is 841.85% and -7.87% from its 52-week high.

Redfin Corporation (RDFN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Redfin Corporation (RDFN) is a “Hold”. 18 analysts offering their recommendations for the stock have an average rating of 2.60, where 11 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Redfin Corporation is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at $0.04 with sales reaching $235.13M over the same period.The EPS is expected to shrink by -80.10% this year, but quarterly earnings will post 11.70% year-over-year. Quarterly sales are estimated to grow 0.80% in year-over-year returns.

Redfin Corporation (RDFN) Insider Activity

A total of 90 insider transactions have happened at Redfin Corporation (RDFN) in the last six months, with sales accounting for 61 and purchases happening 29 times. The most recent transaction is an insider sale by Wiener Adam, the company’s Chief Growth Officer. SEC filings show that Wiener Adam sold 6,500 shares of the company’s common stock on Feb 18 at a price of $89.53 per share for a total of $0.58 million. Following the sale, the insider now owns 0.29 million shares.

Redfin Corporation disclosed in a document filed with the SEC on Feb 18 that Nielsen Christopher John (Chief Financial Officer) sold a total of 3,000 shares of the company’s common stock. The trade occurred on Feb 18 and was made at $89.49 per share for $0.27 million. Following the transaction, the insider now directly holds 20574.0 shares of the RDFN stock.

Still, SEC filings show that on Feb 16, MYLOD ROBERT J JR (Director) disposed off 119,200 shares at an average price of $90.85 for $10.83 million. The insider now directly holds 0 shares of Redfin Corporation (RDFN).

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Redfin Corporation (RDFN): Who are the competitors?

The company’s main competitors (and peers) include New England Realty Associates Limited Partnership (NEN) that is trading -15.89% down over the past 12 months. Short interest in the company’s stock has fallen -14.0% from the last report on Dec 30, 2020 to stand at a total of 7.41 million short shares sold with a short interest ratio of 4.71.

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