Robinhood Markets (NASDAQ:HOOD - Free Report) had its target price lowered by JMP Securities from $77.00 to $70.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.
Several other analysts also recently commented on the company. Needham & Company LLC dropped their price objective on Robinhood Markets from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Barclays dropped their price target on Robinhood Markets from $76.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Cantor Fitzgerald assumed coverage on Robinhood Markets in a research note on Thursday, March 6th. They set an "overweight" rating and a $69.00 target price for the company. Raymond James initiated coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a "market perform" rating on the stock. Finally, Citigroup reduced their price target on shares of Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets has a consensus rating of "Moderate Buy" and an average price target of $55.06.
Get Our Latest Stock Analysis on Robinhood Markets
Robinhood Markets Price Performance
Shares of Robinhood Markets stock traded up $3.17 during trading on Tuesday, hitting $43.68. 51,213,678 shares of the company were exchanged, compared to its average volume of 23,773,205. The firm has a market capitalization of $38.68 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17. The firm's fifty day moving average price is $46.45 and its 200 day moving average price is $39.50. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $66.91.
Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 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%. As a group, equities research analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.
Insiders Place Their Bets
In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the transaction, the chief technology officer now directly owns 5,853 shares in the company, valued at approximately $201,987.03. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the completion of the sale, the insider now owns 706,642 shares of the company's stock, valued at approximately $36,462,727.20. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,651,987 shares of company stock valued at $132,806,233 in the last 90 days. 19.95% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Robinhood Markets
Institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Robinhood Markets by 184.8% during the 4th quarter. FMR LLC now owns 40,237,478 shares of the company's stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. Norges Bank acquired a new stake in Robinhood Markets during the 4th quarter valued at $329,598,000. GQG Partners LLC bought a new position in Robinhood Markets during the fourth quarter worth $302,325,000. Artisan Partners Limited Partnership acquired a new position in shares of Robinhood Markets in the fourth quarter valued at $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company's stock valued at $193,202,000 after purchasing an additional 3,994,745 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.
About Robinhood Markets
(
Get Free Report)
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.
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