Robinhood Markets, Inc. (NASDAQ:HOOD) Given Average Recommendation of “Hold” by Brokerages

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD) have been assigned a consensus recommendation of “Hold” from the sixteen research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $23.43.

HOOD has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on Robinhood Markets from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Citigroup raised their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday. Barclays upgraded Robinhood Markets from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $18.00 to $20.00 in a research note on Friday, September 6th. Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target for the company in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lifted their target price on Robinhood Markets from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $22.50, for a total transaction of $5,625,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Friday, July 5th. The stock was sold at an average price of $22.50, for a total value of $5,625,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Warnick sold 25,000 shares of Robinhood Markets stock in a transaction on Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,077,162 shares of the company’s stock, valued at $22,577,315.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,204,096 shares of company stock valued at $23,603,793. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOOD. Commerce Bank raised its holdings in Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after acquiring an additional 917 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth $229,000. Hsbc Holdings PLC raised its holdings in shares of Robinhood Markets by 245.5% during the 4th quarter. Hsbc Holdings PLC now owns 233,289 shares of the company’s stock worth $2,955,000 after buying an additional 165,772 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Robinhood Markets by 8.7% during the 4th quarter. Treasurer of the State of North Carolina now owns 317,018 shares of the company’s stock worth $4,039,000 after buying an additional 25,445 shares in the last quarter. Finally, Evoke Wealth LLC acquired a new position in shares of Robinhood Markets during the 4th quarter worth $138,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Robinhood Markets Stock Performance

Shares of Robinhood Markets stock opened at $23.89 on Friday. The business’s 50 day simple moving average is $20.49 and its 200 day simple moving average is $20.17. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $24.88. The firm has a market cap of $21.00 billion, a PE ratio of 159.27 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The business’s revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. As a group, equities research analysts predict that Robinhood Markets will post 0.76 EPS for the current year.

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.