Robinhood Markets (NASDAQ:HOOD) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Robinhood Markets (NASDAQ:HOOD) in a research note published on Monday, Benzinga reports.

A number of other analysts also recently issued reports on HOOD. Barclays raised their price objective on Robinhood Markets from $11.00 to $16.00 and gave the stock an underweight rating in a research report on Monday, April 8th. Mizuho lifted their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a research report on Monday. Citigroup lowered shares of Robinhood Markets from a neutral rating to a sell rating and upped their price objective for the stock from $13.00 to $16.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an underweight rating in a research report on Wednesday, February 14th. Finally, Sanford C. Bernstein started coverage on Robinhood Markets in a research report on Thursday, March 14th. They issued an outperform rating and a $30.00 target price on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $18.96.

Robinhood Markets Price Performance

Shares of HOOD stock opened at $17.85 on Monday. The company has a market capitalization of $15.61 billion, a PE ratio of -29.75 and a beta of 1.74. The firm’s 50-day moving average is $17.78 and its two-hundred day moving average is $13.37. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) EPS. Sell-side analysts forecast that Robinhood Markets will post 0.29 EPS for the current year.

Insider Buying and Selling at Robinhood Markets

In related news, CFO Jason Warnick sold 5,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 916,267 shares in the company, valued at $10,995,204. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $17.93, for a total transaction of $4,482,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jason Warnick sold 5,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 916,267 shares of the company’s stock, valued at approximately $10,995,204. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,413,026 shares of company stock valued at $38,927,267. Insiders own 20.81% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of institutional investors and hedge funds have recently bought and sold shares of HOOD. Norges Bank acquired a new stake in shares of Robinhood Markets during the fourth quarter worth about $84,165,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Robinhood Markets by 9.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock worth $372,081,000 after buying an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in Robinhood Markets by 9.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock worth $360,514,000 after buying an additional 2,486,986 shares during the period. Vanguard Group Inc. lifted its stake in Robinhood Markets by 4.5% in the third quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after buying an additional 2,459,702 shares during the last quarter. Finally, ARK Investment Management LLC boosted its holdings in shares of Robinhood Markets by 6.4% in the fourth quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after acquiring an additional 2,101,325 shares during the period. 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.