Robinhood Markets (NASDAQ:HOOD) Stock Rating Upgraded by Wolfe Research

Robinhood Markets (NASDAQ:HOOD) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Wednesday, Marketbeat.com reports. The brokerage currently has a $29.00 price objective on the stock. Wolfe Research’s price target points to a potential upside of 28.38% from the stock’s previous close.

HOOD has been the topic of several other reports. Keefe, Bruyette & Woods initiated coverage on Robinhood Markets in a research report on Wednesday, April 3rd. They set a “market perform” rating and a $20.00 price target on the stock. The Goldman Sachs Group upped their price target on Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Citigroup lifted their target price on Robinhood Markets from $16.00 to $18.00 and gave the company a “sell” rating in a research note on Thursday, June 13th. TheStreet upgraded shares of Robinhood Markets from a “d+” rating to a “c-” rating in a report on Wednesday, February 28th. Finally, Sanford C. Bernstein started coverage on shares of Robinhood Markets in a research report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets currently has an average rating of “Hold” and an average target price of $20.77.

Robinhood Markets Trading Up 1.3 %

NASDAQ:HOOD opened at $22.59 on Wednesday. The firm has a market capitalization of $19.85 billion, a PE ratio of 150.60 and a beta of 1.83. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $24.28. The stock has a 50 day moving average of $19.95 and a 200-day moving average of $16.35.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The company had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm’s quarterly revenue was up 40.1% compared to the same quarter last year. During the same period last year, the business posted ($0.57) earnings per share. As a group, analysts predict that Robinhood Markets will post 0.56 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total value of $4,667,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total value of $4,667,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Baiju Bhatt sold 116,669 shares of Robinhood Markets stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $22.02, for a total value of $2,569,051.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,486,733 shares of company stock worth $28,618,091. 19.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in HOOD. Angeles Wealth Management LLC boosted its holdings in shares of Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after acquiring an additional 610 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Robinhood Markets by 46.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Commerce Bank grew its holdings in Robinhood Markets by 7.9% during the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after acquiring an additional 917 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Robinhood Markets by 4.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after purchasing an additional 1,060 shares during the period. Finally, Whittier Trust Co. raised its position in shares of Robinhood Markets by 25.8% during the first quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after acquiring an additional 1,194 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.