Robinhood Markets, Inc. (NASDAQ:HOOD) Given Average Rating of “Hold” by Brokerages

Robinhood Markets, Inc. (NASDAQ:HOOD) has been assigned an average rating of “Hold” from the sixteen ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $22.30.

A number of research analysts recently commented on HOOD shares. Wolfe Research upgraded shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research note on Wednesday, June 26th. Bank of America lifted their price target on Robinhood Markets from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, June 20th. Finally, Citigroup raised shares of Robinhood Markets from a “sell” rating to a “neutral” rating and set a $18.00 price objective for the company in a report on Monday, August 5th.

Insider Buying and Selling at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the sale, the insider now directly owns 956,247 shares of the company’s stock, valued at approximately $21,802,431.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets 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 available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $22.80, for a total value of $285,000.00. Following the sale, the insider now owns 956,247 shares in the company, valued at $21,802,431.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,231,246 shares of company stock worth $25,375,917 over the last 90 days. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Angeles Wealth Management LLC increased its holdings in Robinhood Markets by 5.3% in the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after purchasing an additional 610 shares during the period. GAMMA Investing LLC lifted its stake in shares of Robinhood Markets by 44.9% in the second quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after acquiring an additional 710 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Robinhood Markets by 46.5% in the fourth 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 period. Commerce Bank boosted its holdings in Robinhood Markets by 7.9% in the fourth quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after acquiring an additional 917 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Robinhood Markets by 4.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after purchasing an additional 1,060 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Trading Down 0.7 %

Shares of NASDAQ HOOD opened at $18.41 on Friday. The company has a market capitalization of $16.18 billion, a P/E ratio of 122.73 and a beta of 1.83. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $24.88. The stock has a 50 day moving average of $21.63 and a 200-day moving average of $18.58.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. The business had revenue of $682.00 million during the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. Analysts predict that Robinhood Markets will post 0.57 EPS for the current fiscal year.

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.