Robinhood Markets (NASDAQ:HOOD) Given Hold Rating at Needham & Company LLC

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

Other analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of Robinhood Markets from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their price target on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Barclays raised their price target on shares of Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Citigroup raised 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. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.17.

Robinhood Markets Stock Performance

Shares of HOOD stock opened at $23.97 on Thursday. Robinhood Markets has a one year low of $7.91 and a one year high of $28.58. The company’s 50-day moving average is $23.44 and its 200 day moving average is $21.43. The company has a market capitalization of $21.21 billion, a price-to-earnings ratio of 40.63 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.61%. The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $660.53 million. During the same period last year, the company posted ($0.09) earnings per share. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year. As a group, research analysts predict that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, Director Baiju Bhatt sold 98,404 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the sale, the director now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the sale, the director now owns 2,521 shares in the company, valued at $66,554.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meyer Malka sold 3,225,806 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the sale, the director now owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,389,654 shares of company stock worth $106,229,132. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd raised its position in shares of Robinhood Markets by 180.8% during the third quarter. Covestor Ltd now owns 18,554 shares of the company’s stock valued at $434,000 after buying an additional 11,946 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Robinhood Markets in the third quarter valued at $51,000. United Advisor Group LLC purchased a new position in shares of Robinhood Markets in the third quarter valued at $1,342,000. QRG Capital Management Inc. grew its holdings in shares of Robinhood Markets by 515.0% in the third quarter. QRG Capital Management Inc. now owns 80,784 shares of the company’s stock valued at $1,892,000 after purchasing an additional 67,649 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Robinhood Markets by 2.4% in the third quarter. Asset Management One Co. Ltd. now owns 184,586 shares of the company’s stock valued at $4,323,000 after purchasing an additional 4,325 shares in the last quarter. 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.