Robinhood Markets (NASDAQ:HOOD) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Robinhood Markets (NASDAQ:HOOD) in a research report sent to investors on Monday morning, Benzinga reports.

Several other research analysts have also issued reports on HOOD. Citigroup lowered shares of Robinhood Markets from a neutral rating to a sell rating and increased their target price for the stock from $13.00 to $16.00 in a research note on Thursday, April 11th. Piper Sandler upped their price target on Robinhood Markets from $12.50 to $17.00 and gave the stock a neutral rating in a research note on Friday, April 12th. The Goldman Sachs Group raised their price objective on Robinhood Markets from $18.00 to $20.00 and gave the company a neutral rating in a research note on Monday, April 15th. TheStreet raised Robinhood Markets from a d+ rating to a c- rating in a research report on Wednesday, February 28th. Finally, KeyCorp lifted their price target on shares of Robinhood Markets from $22.00 to $23.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of Hold and a consensus target price of $19.35.

Robinhood Markets Trading Down 3.1 %

NASDAQ HOOD opened at $17.30 on Monday. The firm has a market capitalization of $15.13 billion, a PE ratio of -28.83 and a beta of 1.74. The business’s 50-day moving average price is $17.83 and its two-hundred day moving average price is $13.43. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The business had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The business’s quarterly revenue was up 40.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.57) earnings per share. As a group, analysts forecast that Robinhood Markets will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.12, for a total value of $7,560,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Vladimir Tenev sold 500,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.12, for a total value of $7,560,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.83, for a total transaction of $222,875.00. Following the sale, the insider now owns 854,995 shares of the company’s stock, valued at $15,244,560.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,413,026 shares of company stock worth $38,927,267. Insiders own 20.81% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of large investors have recently made changes to their positions in HOOD. Bank of New York Mellon Corp grew its position in shares of Robinhood Markets by 15.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,419,817 shares of the company’s stock valued at $23,738,000 after acquiring an additional 325,506 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Robinhood Markets by 12.2% in the third quarter. California Public Employees Retirement System now owns 1,009,592 shares of the company’s stock valued at $9,904,000 after purchasing an additional 109,652 shares during the period. Seven Eight Capital LP purchased a new stake in Robinhood Markets in the third quarter worth about $131,000. Quantbot Technologies LP increased its holdings in shares of Robinhood Markets by 583.1% in the 3rd quarter. Quantbot Technologies LP now owns 132,612 shares of the company’s stock valued at $1,301,000 after acquiring an additional 113,199 shares during the period. Finally, Gulf International Bank UK Ltd bought a new stake in shares of Robinhood Markets in the 4th quarter valued at about $764,000. 93.27% of the stock is currently owned by 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.