Robinhood Markets (NASDAQ:HOOD) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “market perform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a report released on Thursday,Benzinga reports. They presently have a $60.00 target price on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 47.57% from the stock’s current price.

A number of other research analysts have also recently commented on HOOD. Piper Sandler boosted their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Raymond James initiated coverage on Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Morgan Stanley lifted their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Cantor Fitzgerald initiated coverage on shares of Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price target for the company. Finally, Needham & Company LLC reduced their price objective on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $60.82.

Robinhood Markets Trading Down 7.6 %

HOOD stock traded down $3.33 during midday trading on Thursday, reaching $40.66. 12,185,403 shares of the company’s stock traded hands, compared to its average volume of 21,506,137. The stock’s 50-day moving average is $49.29 and its 200 day moving average is $37.91. The stock has a market cap of $36.00 billion, a P/E ratio of 25.88, a PEG ratio of 1.05 and a beta of 2.14. Robinhood Markets has a 52-week low of $13.98 and a 52-week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued 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 net margin of 47.81% and a return on equity of 13.53%. As a group, research analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total transaction of $273,978.93. Following the sale, the chief technology officer now owns 17,559 shares in the company, valued at approximately $821,936.79. This trade represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Tenev sold 750,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total value of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold 2,955,655 shares of company stock valued at $143,072,448 over the last ninety days. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of large investors have recently modified their holdings of the business. FMR LLC boosted its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the last quarter. Norges Bank acquired a new position in shares of Robinhood Markets during the 4th quarter worth approximately $329,598,000. GQG Partners LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership purchased a new position in Robinhood Markets during the fourth quarter worth approximately $152,949,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Robinhood Markets by 335.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock valued at $193,202,000 after acquiring an additional 3,994,745 shares during the last quarter. 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.