Robinhood Markets (NASDAQ:HOOD) Upgraded to Neutral at Citigroup

Citigroup upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a sell rating to a neutral rating in a report published on Monday morning, MarketBeat.com reports. Citigroup currently has $18.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. KeyCorp increased their price objective on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an overweight rating in a research report on Friday, July 19th. JMP Securities reiterated a market outperform rating and issued a $30.00 price objective on shares of Robinhood Markets in a report on Friday, June 7th. Piper Sandler increased their target price on Robinhood Markets from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Tuesday, July 9th. Wolfe Research raised Robinhood Markets from a peer perform rating to an outperform rating and set a $29.00 target price for the company in a research report on Wednesday, June 26th. Finally, Bank of America raised shares of Robinhood Markets from an underperform rating to a buy rating and increased their price target for the stock from $14.00 to $24.00 in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Robinhood Markets has a consensus rating of Hold and a consensus target price of $21.23.

Robinhood Markets Trading Up 4.8 %

Robinhood Markets stock traded up $0.79 during mid-day trading on Monday, hitting $17.21. The company’s stock had a trading volume of 22,380,298 shares, compared to its average volume of 16,029,139. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $24.88. The firm has a market capitalization of $15.12 billion, a PE ratio of 109.47 and a beta of 1.83. The stock’s fifty day moving average is $22.02 and its two-hundred day moving average is $18.28.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm had revenue of $618.00 million during the quarter, compared to the consensus estimate of $552.74 million. During the same period last year, the company earned ($0.57) EPS. The company’s quarterly revenue was up 40.1% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets will post 0.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $21.03, for a total transaction of $5,257,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $21.03, for a total value of $5,257,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $21.05, for a total transaction of $263,125.00. Following the completion of the transaction, the insider now directly owns 943,815 shares in the company, valued at $19,867,305.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,151,093 shares of company stock valued at $24,215,307. 19.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after buying an additional 1,003,535 shares during the last quarter. Banque Cantonale Vaudoise grew its position in Robinhood Markets by 21,404.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after buying an additional 96,318 shares during the last quarter. UniSuper Management Pty Ltd grew its position in Robinhood Markets by 87.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after buying an additional 2,700 shares during the last quarter. Wellington Management Group LLP purchased a new position in Robinhood Markets in the 4th quarter valued at $8,299,000. Finally, Strs Ohio purchased a new stake in shares of Robinhood Markets during the 4th quarter worth $750,000. 93.27% of the stock is currently 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.