Robinhood Markets (NASDAQ:HOOD) Lowered to Peer Perform Rating by Wolfe Research

Robinhood Markets (NASDAQ:HOOD - Get Free Report) was downgraded by research analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a research report issued on Tuesday, MarketBeat reports.

A number of other research firms also recently issued reports on HOOD. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $36.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Barclays lifted their target price on Robinhood Markets from $54.00 to $76.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Mizuho increased their price target on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Morgan Stanley increased their price target on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.53.

Robinhood Markets Price Performance

NASDAQ:HOOD traded down $4.46 during trading hours on Tuesday, reaching $51.60. 33,522,577 shares of the stock were exchanged, compared to its average volume of 25,542,662. Robinhood Markets has a twelve month low of $13.59 and a twelve month high of $66.91. The firm has a 50 day moving average of $47.42 and a 200 day moving average of $33.80. The stock has a market cap of $45.61 billion, a PE ratio of 32.87, a PEG ratio of 1.11 and a beta of 2.13.

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 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%. 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 5,876 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $37.92, for a total value of $222,817.92. Following the transaction, the chief technology officer now directly owns 11,752 shares in the company, valued at approximately $445,635.84. This represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven M. Quirk sold 19,861 shares of Robinhood Markets stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the transaction, the insider now directly owns 395,166 shares of the company's stock, valued at $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,520,607 shares of company stock worth $200,784,430 over the last three months. Insiders own 19.95% of the company's stock.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its position in shares of Robinhood Markets by 31.1% during the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company's stock worth $1,602,000 after acquiring an additional 16,219 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $634,000. Atomi Financial Group Inc. grew its holdings in shares of Robinhood Markets by 20.7% during the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company's stock valued at $20,154,000 after purchasing an additional 92,613 shares during the last quarter. Requisite Capital Management LLC acquired a new position in Robinhood Markets during the 4th quarter worth approximately $266,000. Finally, Baker Avenue Asset Management LP lifted its stake in Robinhood Markets by 77.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company's stock valued at $10,874,000 after purchasing an additional 203,354 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.