Robinhood Markets (NASDAQ:HOOD) Given Hold Rating at Needham & Company LLC

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

Several other brokerages also recently commented on HOOD. JPMorgan Chase & Co. lifted their target price on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th. Sanford C. Bernstein began coverage on Robinhood Markets in a research report on Thursday, March 14th. They issued an “outperform” rating and a $30.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Robinhood Markets from $12.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, March 19th. Piper Sandler boosted their price objective on Robinhood Markets from $12.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Citigroup lowered Robinhood Markets from a “neutral” rating to a “sell” rating and increased their price objective for the company from $13.00 to $16.00 in a research report on Thursday, April 11th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.96.

Robinhood Markets Stock Up 1.1 %

Shares of Robinhood Markets stock traded up $0.20 during mid-day trading on Monday, reaching $18.15. 8,388,219 shares of the stock traded hands, compared to its average volume of 13,880,708. The stock has a market capitalization of $15.87 billion, a PE ratio of -30.48 and a beta of 1.74. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $20.55. The business has a 50-day moving average of $17.70 and a 200 day moving average of $13.24.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $454.73 million. During the same quarter in the previous year, the firm posted ($0.19) EPS. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities research analysts expect that Robinhood Markets will post 0.29 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.59, for a total transaction of $97,950.00. Following the transaction, the chief financial officer now directly owns 1,002,407 shares in the company, valued at approximately $19,637,153.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Vladimir Tenev sold 25,049 shares of Robinhood Markets stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $17.04, for a total value of $426,834.96. Following the transaction, the chief executive officer now directly owns 32,584 shares in the company, valued at approximately $555,231.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $19.59, for a total value of $97,950.00. Following the transaction, the chief financial officer now owns 1,002,407 shares in the company, valued at approximately $19,637,153.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,150,526 shares of company stock valued at $34,221,892. 20.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the company. Spire Wealth Management acquired a new stake in Robinhood Markets during the fourth quarter worth about $26,000. Peoples Bank KS acquired a new stake in Robinhood Markets in the 3rd quarter valued at $29,000. PNC Financial Services Group Inc. boosted its holdings in Robinhood Markets by 46.5% in the 4th 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 during the period. UniSuper Management Pty Ltd acquired a new position in Robinhood Markets during the 3rd quarter worth approximately $30,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Robinhood Markets during the first quarter worth $34,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About Robinhood Markets

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.