Robinhood Markets, Inc. (NASDAQ:HOOD) Receives Average Rating of “Hold” from Brokerages

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

HOOD has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. Piper Sandler increased their target price on Robinhood Markets from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their target price on shares of Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th.

Insider Buying and Selling at Robinhood Markets

In other news, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the sale, the director now directly owns 2,521 shares in the company, valued at approximately $66,554.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 98,404 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total value of $2,597,865.60. Following the sale, the director now owns 2,521 shares of the company’s stock, valued at approximately $66,554.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,639,654 shares of company stock worth $110,241,632 over the last quarter. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eastern Bank acquired a new position in shares of Robinhood Markets during the third quarter valued at about $30,000. ORG Wealth Partners LLC purchased a new stake in Robinhood Markets during the 3rd quarter worth approximately $33,000. ORG Partners LLC acquired a new position in Robinhood Markets during the 2nd quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Robinhood Markets in the first quarter worth $34,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Robinhood Markets during the second quarter worth $40,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $27.06 on Wednesday. The firm has a market capitalization of $23.78 billion, a PE ratio of 180.40 and a beta of 1.84. The stock’s fifty day moving average is $22.84 and its 200 day moving average is $21.15. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $27.75.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business’s revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. Equities analysts forecast that Robinhood Markets will post 0.74 EPS for the current year.

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.