Robinhood Markets, Inc. (NASDAQ:HOOD) Receives Consensus Rating of "Hold" from Brokerages

Shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Get Free Report) have been assigned a consensus recommendation of "Hold" from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.97.

A number of research analysts recently issued reports on the company. Barclays boosted their price target on Robinhood Markets from $20.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Wolfe Research raised 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. JMP Securities restated a "market outperform" rating and issued a $30.00 price objective on shares of Robinhood Markets in a report on Thursday, August 8th. Bank of America boosted their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Finally, Morgan Stanley increased their price target on shares of Robinhood Markets from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th.

Robinhood Markets Stock Up 1.6 %

Shares of NASDAQ:HOOD opened at $27.41 on Wednesday. The company's fifty day moving average is $22.20 and its 200 day moving average is $20.91. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $27.60. The stock has a market cap of $24.09 billion, a PE ratio of 182.73 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings data 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. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The firm had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business's quarterly revenue was up 40.3% compared to the same quarter last year. Sell-side analysts anticipate that Robinhood Markets will post 0.76 EPS for the current year.

Insider Activity at Robinhood Markets

In other Robinhood Markets news, Director Baiju Bhatt sold 143,944 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total transaction of $2,696,071.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the transaction, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 143,944 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The disclosure for this sale can be found here. Insiders sold 4,639,654 shares of company stock valued at $110,241,632 over the last 90 days. Corporate insiders own 19.95% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in Robinhood Markets by 46.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company's stock worth $29,000 after buying an additional 722 shares in the last quarter. Eastern Bank bought a new position in shares of Robinhood Markets during the 3rd quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in Robinhood Markets during the 2nd quarter worth approximately $33,000. ORG Wealth Partners LLC purchased a new position in Robinhood Markets during the third quarter valued at approximately $33,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Robinhood Markets during the first quarter valued at approximately $34,000. 93.27% of the stock is currently 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.