Robinhood Markets (NASDAQ:HOOD) Given New $50.00 Price Target at Citigroup

Robinhood Markets (NASDAQ:HOOD) had its price objective reduced by Citigroup from $60.00 to $50.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $46.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft reduced their target price on Robinhood Markets from $75.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Piper Sandler lifted their price target on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. KeyCorp increased their price objective on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a research report on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.24.

Robinhood Markets Trading Up 1.2 %

Shares of Robinhood Markets stock opened at $42.68 on Wednesday. The company has a fifty day moving average price of $48.73 and a 200 day moving average price of $38.63. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $66.91. The stock has a market cap of $37.79 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14.

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

Insider Buying and Selling

In other news, insider Steven M. Quirk sold 123,272 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 298,826 shares in the company, valued at $16,674,490.80. This represents a 29.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of Robinhood Markets stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $40.45, for a total transaction of $4,045,000.00. Following the sale, the insider now directly owns 731,642 shares of the company’s stock, valued at $29,594,918.90. This trade represents a 12.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,205,655 shares of company stock valued at $113,702,448. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of HOOD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Robinhood Markets by 8.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,178,669 shares of the company’s stock worth $51,024,000 after purchasing an additional 177,395 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Robinhood Markets by 31.0% during the 3rd quarter. Captrust Financial Advisors now owns 18,942 shares of the company’s stock worth $444,000 after buying an additional 4,487 shares during the period. Verition Fund Management LLC grew its stake in Robinhood Markets by 34.2% in the 3rd quarter. Verition Fund Management LLC now owns 81,843 shares of the company’s stock valued at $1,917,000 after buying an additional 20,838 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Robinhood Markets by 13,581.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 73,059 shares of the company’s stock worth $1,711,000 after acquiring an additional 72,525 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its position in Robinhood Markets by 246.9% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,390 shares of the company’s stock worth $56,000 after acquiring an additional 1,701 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.