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

Keefe, Bruyette & Woods restated their market perform rating on shares of Robinhood Markets (NASDAQ:HOOD) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $60.00 price objective on the stock.

A number of other equities analysts have also weighed in on HOOD. Cantor Fitzgerald assumed coverage on Robinhood Markets in a research report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 target price for the company. Morgan Stanley boosted their price objective on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Compass Point assumed coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They set a “buy” rating and a $61.00 price objective on the stock. The Goldman Sachs Group raised shares of Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $46.00 in a research report on Friday, December 6th. Finally, Needham & Company LLC lowered their price target on Robinhood Markets from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Friday. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.82.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded down $2.73 during trading on Thursday, reaching $41.26. 13,906,874 shares of the stock traded hands, compared to its average volume of 21,512,169. Robinhood Markets has a 52-week low of $13.98 and a 52-week high of $66.91. The stock has a market cap of $36.53 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. The stock has a 50-day moving average of $49.29 and a two-hundred day moving average of $37.91.

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

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 228,645 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the sale, the director now directly owns 5,042 shares of the company’s stock, valued at $203,545.54. This represents a 97.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Tenev sold 750,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,955,655 shares of company stock worth $143,072,448 in the last 90 days. 19.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HOOD. FMR LLC raised 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 valued at $1,499,248,000 after purchasing an additional 26,107,934 shares during the period. Norges Bank purchased a new position in shares of Robinhood Markets in the 4th quarter worth approximately $329,598,000. GQG Partners LLC bought a new position in shares of Robinhood Markets during the 4th quarter valued at approximately $302,325,000. Artisan Partners Limited Partnership purchased a new stake in Robinhood Markets during the 4th quarter valued at $152,949,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Robinhood Markets by 335.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after buying an additional 3,994,745 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Robinhood Markets Company Profile

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.