Robinhood Markets (NASDAQ:HOOD) Price Target Cut to $62.00 by Analysts at Needham & Company LLC

Robinhood Markets (NASDAQ:HOOD) had its price target lowered by Needham & Company LLC from $70.00 to $62.00 in a research note issued to investors on Friday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

HOOD has been the subject of several other research reports. Mizuho increased their price target on Robinhood Markets from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a “market perform” rating on the stock. Barclays upped their price target on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Robinhood Markets from $75.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods raised their target price on Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.82.

Robinhood Markets Stock Down 4.7 %

Shares of HOOD stock opened at $41.92 on Friday. The company has a market cap of $37.12 billion, a P/E ratio of 26.70, a PEG ratio of 1.05 and a beta of 2.14. The business has a 50 day moving average of $49.16 and a two-hundred day moving average of $38.06. Robinhood Markets has a 52 week low of $13.98 and a 52 week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 47,023 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $46.37, for a total value of $2,180,456.51. Following the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $233,797.54. This represents a 90.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,955,655 shares of company stock valued at $143,072,448. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Several large investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC increased its position in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after buying an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Robinhood Markets by 2.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after acquiring an additional 233 shares during the period. First Horizon Advisors Inc. lifted its position in Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock worth $142,000 after acquiring an additional 277 shares during the last quarter. Spire Wealth Management boosted its holdings in Robinhood Markets by 104.6% during the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock valued at $40,000 after acquiring an additional 549 shares during the period. Finally, CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

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.