Redfin Corporation (RDFN)
RDFN Chart as of 2025-03-10
Stock Information
| CEO: | – |
| CFO: | – |
| Employees: | 4,778 |
| Address: | 1099 Stewart Street, Seattle, WA, United States |
| Country: | United States |
| Website: | https://www.redfin.com |
| Listing Date: | – |
| Founded: | – |
| Founder: | – |
| Current Price: | 10.15 USD |
| Today Change: | 74.40% |
| Outstanding Shares: | 126,389,000 |
| Volume: | 8,539,711 |
| Avg Volume: | 5,530,075 |
| Expert Target Price: | 7.2583 (Institutions: 0) |
| EPS: | – |
| PER: | – |
| Dividend Date: | – |
| Last Split Date: | – |
| Last Split Factor: | – |
Key Executives
| Name | Title | Pay | Year |
|---|---|---|---|
| Mr. Glenn Kelman | President, CEO & Director | 300k | 320.89k |
| Mr. Christopher Nielsen | Chief Financial Officer | 537.5k | 3.43M |
| Ms. Bridget Jean Frey | Chief Technology Officer | 477k | 114.95k |
| Mr. Anthony Ray Kappus | Chief of Legal Affairs & Digital Revenue Officer | 486.4k | — |
| Ms. Anna Stevens | Chief Human Resources Officer | 1M | — |
| Ms. Meg Nunnally | Head of Investor Relations | — | — |
| Ms. Daryl Fairweather Ph.D. | Chief Economist | — | — |
| Mr. Christian John Taubman | Chief Growth Officer | 281.17k | — |
| Mr. Keith A. Broxterman | Senior Vice-President of Real Estate Support | — | — |
| Mr. Jason Aleem | Chief of Real Estate Services | — | — |
Financials
Income Statement
| Metric | Amount |
|---|---|
| Total Revenue | 1,042,979,000 |
| Cost Of Revenue | 678,778,000 |
| Gross Profit | 364,201,000 |
| Operating Income | -149,571,000 |
| Net Income | -164,801,000 |
Balance Sheet
| Metric | Amount |
|---|---|
| Total Assets | 1,012,457,000 |
| Total Liabilities | – |
| Total Stockholder Equity | – |
Cash Flow
| Metric | Amount |
|---|---|
| Total Cash From Operating Activities | – |
| Capital Expenditures | – |
SEC Filings (Gemini Summaries)
| AccNo | Date | Summary |
|---|---|---|
| 0000950142-25-000697 | 2025-03-10 | Rocket Companies (RKT) filed Form 8-K/425 on March 9, 2025, regarding a merger agreement with Redfin. Rocket’s subsidiary will merge with Redfin, making Redfin a wholly-owned subsidiary of Rocket. Redfin shareholders will receive 0.7926 shares of RKT stock for each Redfin share, valuing Redfin at $1.75B. |
| 0000950142-25-000695 | 2025-03-10 | Rocket Companies (RKT) filed an 8-K on March 9, 2025, announcing an agreement to simplify its structure. The “Up-C” structure will collapse, giving each share one vote and reducing common stock classes. A special $0.80 dividend will be paid to Class A shareholders. The company anticipates enhanced liquidity and a clearer profile. |
| 0001628280-25-011458 | 2025-03-10 | Redfin (RDFN) filed an 8-K on 3/9/2025 announcing a merger agreement with Rocket Companies. Rocket’s subsidiary will merge with Redfin, making Redfin a wholly-owned subsidiary of Rocket. Each Redfin share converts to 0.7926 shares of Rocket’s Class A common stock. Equity value $1.75B, enterprise value $2.4B. Closing conditions apply. |
| 0001628280-25-011457 | 2025-03-10 | Redfin (RDFN) filed an 8-K on 3/9/25, reporting it entered a merger agreement with Rocket Companies. Rocket’s subsidiary will merge into Redfin, with Redfin surviving as a Rocket subsidiary. RDFN shares will convert to 0.7926 shares of Rocket stock, valuing Redfin at $1.75B equity/$2.4B enterprise. Completion is subject to approvals, regulatory clearance, and other conditions. |
| 0001382821-25-000050 | 2025-03-06 | Form 4 filing by Anthony Ray Kappus, Chief Legal Officer of Redfin Corp (RDFN), regarding changes in beneficial ownership of common stock on 03/04/2025. He disposed of 22,189 shares at $5.949. The filing indicates a transaction under Rule 10b5-1(c). |
News Summary
– Redfin (RDFN) Expected to Announce Quarterly Earnings on Thursday
2025-02-26 06:24:52 | ETF Daily News
Redfin (NASDAQ:RDFN – Get Free Report) is expected to be issuing its quarterly earnings data after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.23) per share and revenue of $242.51 million.
Link
– Redfin’s (RDFN) “Neutral” Rating Reiterated at DA Davidson
2025-02-20 08:46:51 | ETF Daily News
DA Davidson reiterated their neutral rating on shares of Redfin (NASDAQ:RDFN – Free Report) in a report published on Wednesday morning,Benzinga reports. They currently have a $7.25 target price on the stock. Other research analysts also recently issued report…
Link
– Redfin (NASDAQ:RDFN) Price Target Cut to $7.00 by Analysts at Susquehanna
2025-03-04 06:53:01 | ETF Daily News
Redfin (NASDAQ:RDFN) had its target price lowered by Susquehanna from $10.00 to $7.00 in a research note issued to investors on Monday morning. The brokerage currently has a neutral rating on the stock.
Link
– Blue Trust Inc. Acquires 2,520 Shares of Redfin Co. (NASDAQ:RDFN)
2025-02-10 18:26:56 | ETF Daily News
Blue Trust Inc. grew its holdings in Redfin Co. (NASDAQ:RDFN – Free Report) by 76.3% in the fourth quarter. The institutional investor owned 5,822 shares of the company’s stock aft…
Link
– Piper Sandler Cuts Redfin (NASDAQ:RDFN) Price Target to $4.00
2025-03-09 07:34:48 | ETF Daily News
Redfin (NASDAQ:RDFN – Free Report) had its target price lowered by Piper Sandler from $7.00 to $4.00. The brokerage currently has an underweight rating on the stock.
Link
Analysis of Today’s Rally
The stock rallied today primarily due to news of a merger agreement. Redfin (RDFN) announced it will be acquired by Rocket Companies (RKT). This acquisition significantly boosts investor confidence in Redfin’s future. The merger details were disclosed in both Redfin and Rocket Companies SEC filings.
The SEC filings explicitly state the merger terms. Redfin shareholders will receive 0.7926 shares of RKT stock for each RDFN share. This values Redfin at approximately $1.75 billion in equity. The enterprise value is calculated to be $2.4 billion. The merger agreement eliminates much of the uncertainty clouding Redfin.
Prior to this announcement, analyst sentiment was largely negative. Susquehanna had lowered its price target to $7.00 earlier this week. Piper Sandler had also cut its target drastically to just $4.00. DA Davidson maintained a neutral rating, but with a target of $7.25.
The acquisition news overshadows any negative earnings expectations. Analysts predicted a loss of $0.23 per share for the upcoming earnings report. The merger with Rocket provides a substantial premium. It mitigates concerns related to continued losses and revenue decline.
The positive market reaction validates the acquisition strategy. The offer provides substantial value to Redfin shareholders. It provides Redfin with the resources and stability of Rocket Companies. The merger represents a strategic shift and a positive outcome given recent analyst downgrades.
This stock has shown a change of 74.40% today.
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