Robinhood Markets’ (HOOD) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Robinhood Markets (NASDAQ:HOOD) in a research note released on Monday, Benzinga reports.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a neutral rating in a research report on Monday, April 15th. KeyCorp raised their target price on shares of Robinhood Markets from $22.00 to $23.00 and gave the company an overweight rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. upped their price objective on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an underweight rating in a research report on Wednesday, February 14th. Barclays raised their target price on Robinhood Markets from $11.00 to $16.00 and gave the company an underweight rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods started coverage on Robinhood Markets in a research note on Wednesday, April 3rd. They set a market perform rating and a $20.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Robinhood Markets presently has an average rating of Hold and an average target price of $19.35.

Robinhood Markets Stock Performance

HOOD stock opened at $17.30 on Monday. The firm has a 50 day moving average price of $17.83 and a 200-day moving average price of $13.43. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of -28.83 and a beta of 1.74. Robinhood Markets has a 52-week low of $7.91 and a 52-week high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.13. The firm had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $552.74 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The company’s revenue was up 40.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.57) EPS. As a group, sell-side analysts forecast that Robinhood Markets will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the sale, the chief financial officer now directly owns 916,267 shares in the company, valued at $10,995,204. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. Following the sale, the chief financial officer now owns 916,267 shares of the company’s stock, valued at $10,995,204. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Baiju Bhatt sold 188,077 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total transaction of $2,552,204.89. Following the completion of the transaction, the insider now owns 36,045 shares of the company’s stock, valued at approximately $489,130.65. The disclosure for this sale can be found here. Insiders sold 2,413,026 shares of company stock valued at $38,927,267 in the last 90 days. Company insiders own 20.81% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Robinhood Markets during the 3rd quarter worth approximately $231,000. Raymond James & Associates lifted its position in Robinhood Markets by 7.0% in the third quarter. Raymond James & Associates now owns 31,847 shares of the company’s stock valued at $312,000 after acquiring an additional 2,070 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Robinhood Markets by 33.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 16,647 shares of the company’s stock valued at $163,000 after acquiring an additional 4,163 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Robinhood Markets during the third quarter worth about $296,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Robinhood Markets by 15.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,419,817 shares of the company’s stock valued at $23,738,000 after purchasing an additional 325,506 shares during the period. Hedge funds and other institutional investors 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.