Needham & Company LLC Reiterates “Hold” Rating for Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research note issued on Thursday, Benzinga reports.

A number of other analysts also recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley raised their target price on shares of Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Citigroup upped their price target on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Barclays increased their price objective on shares of Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, KeyCorp boosted their target price on Robinhood Markets from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.17.

Robinhood Markets Trading Up 2.0 %

Shares of NASDAQ HOOD opened at $23.97 on Thursday. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $28.58. The firm’s 50-day moving average price is $23.44 and its 200-day moving average price is $21.40. The stock has a market capitalization of $21.21 billion, a price-to-earnings ratio of 40.63 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.61%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) earnings per share. On average, equities analysts predict that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 143,944 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The disclosure for this sale can be found here. Insiders have sold a total of 4,639,654 shares of company stock valued at $110,241,632 over the last ninety days. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Robinhood Markets in the first quarter valued at about $278,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Robinhood Markets in the first quarter worth about $34,000. Principal Financial Group Inc. lifted its holdings in shares of Robinhood Markets by 26.6% during the first quarter. Principal Financial Group Inc. now owns 53,661 shares of the company’s stock worth $1,080,000 after purchasing an additional 11,264 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Robinhood Markets by 40.1% in the first quarter. Commonwealth Equity Services LLC now owns 46,101 shares of the company’s stock valued at $928,000 after buying an additional 13,202 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.