Needham & Company LLC Reaffirms Hold Rating for Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports.

Other equities research analysts have also issued reports about the company. Citigroup lifted their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price target on shares of Robinhood Markets in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group upped their price objective on shares of Robinhood Markets from $22.50 to $25.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of “Hold” and an average target price of $25.17.

Robinhood Markets Trading Up 2.0 %

Shares of NASDAQ HOOD opened at $23.97 on Thursday. The firm has a fifty day simple moving average of $23.44 and a two-hundred day simple moving average of $21.40. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $28.58. The firm has a market capitalization of $21.21 billion, a PE ratio of 40.63 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a return on equity of 7.61% and a net margin of 21.80%. Robinhood Markets’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. On average, sell-side analysts predict that Robinhood Markets will post 0.74 earnings per share for the current year.

Insider Buying and Selling

In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the completion of the sale, the director now owns 29,357,336 shares of the company’s stock, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,639,654 shares of company stock worth $110,241,632. 19.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. PNC Financial Services Group Inc. boosted its holdings in shares of Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Robinhood Markets during the 1st quarter valued at $278,000. Allspring Global Investments Holdings LLC bought a new position in shares of Robinhood Markets during the 1st quarter valued at about $34,000. Principal Financial Group Inc. lifted its position in shares of Robinhood Markets by 26.6% in the first quarter. Principal Financial Group Inc. now owns 53,661 shares of the company’s stock worth $1,080,000 after buying an additional 11,264 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Robinhood Markets by 40.1% during the first quarter. Commonwealth Equity Services LLC now owns 46,101 shares of the company’s stock valued at $928,000 after buying an additional 13,202 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.