Robinhood Markets (NASDAQ:HOOD) Price Target Lowered to $70.00 at JMP Securities

Robinhood Markets (NASDAQ:HOOD) had its target price dropped by investment analysts at JMP Securities from $77.00 to $70.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 98.13% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Compass Point assumed coverage on Robinhood Markets in a report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective for the company. Piper Sandler raised their price objective on Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Raymond James began coverage on shares of Robinhood Markets in a report on Wednesday, February 5th. They set a “market perform” rating on the stock. Barclays lowered their price objective on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.06.

Robinhood Markets Trading Down 0.2 %

HOOD traded down $0.08 on Tuesday, hitting $35.33. 44,796,926 shares of the company’s stock traded hands, compared to its average volume of 22,955,638. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91. The company’s 50 day simple moving average is $47.91 and its 200-day simple moving average is $39.02. The firm has a market cap of $31.28 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.05 and a beta of 2.17.

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

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value 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. In the last quarter, insiders sold 2,646,134 shares of company stock valued at $132,604,246. Company insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors have recently added to or reduced their stakes in HOOD. New Wave Wealth Advisors LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $26,000. CoreCap Advisors LLC raised its holdings in Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after acquiring an additional 750 shares during the period. Colonial Trust Co SC acquired a new position in Robinhood Markets in the fourth quarter valued at $34,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Robinhood Markets by 139.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock valued at $36,000 after buying an additional 498 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.