Robinhood Markets (NASDAQ:HOOD) Downgraded by Morgan Stanley to "Equal Weight"

Robinhood Markets (NASDAQ:HOOD - Get Free Report) was downgraded by stock analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a research note issued on Tuesday, Marketbeat reports. They presently have a $40.00 price target on the stock. Morgan Stanley's target price points to a potential downside of 8.42% from the stock's current price.

HOOD has been the subject of several other research reports. Mizuho increased their price objective on shares of Robinhood Markets from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Compass Point assumed coverage on Robinhood Markets in a research note on Wednesday, March 19th. They issued a "buy" rating and a $61.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Robinhood Markets from $39.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. KeyCorp upped their target price on Robinhood Markets from $57.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, Piper Sandler lifted their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Robinhood Markets presently has a consensus rating of "Moderate Buy" and an average target price of $55.06.

Remove Ads

Robinhood Markets Price Performance

Shares of Robinhood Markets stock traded up $3.17 during trading hours on Tuesday, hitting $43.68. The company had a trading volume of 51,213,678 shares, compared to its average volume of 23,773,205. The company's 50-day moving average is $46.45 and its two-hundred day moving average is $39.50. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $66.91. The company has a market cap 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.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. Sell-side analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, insider Steven M. Quirk sold 123,272 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.80, for a total value of $6,878,577.60. Following the completion of the transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. This trade represents a 29.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the sale, the insider now directly owns 706,642 shares in the company, valued at $36,462,727.20. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,651,987 shares of company stock worth $132,806,233. Company insiders own 19.95% of the company's stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Whipplewood Advisors LLC raised its holdings in shares of Robinhood Markets by 564.4% during the first quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after acquiring an additional 508 shares during the period. New Wave Wealth Advisors LLC bought a new position in shares of Robinhood Markets during the fourth quarter valued at $26,000. CoreCap Advisors LLC boosted its stake in Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock worth $31,000 after purchasing an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in Robinhood Markets by 750.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Finally, Colonial Trust Co SC bought a new stake in shares of Robinhood Markets during the fourth quarter worth approximately $34,000. 93.27% of the stock is owned by hedge funds and other 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.