Robinhood Markets (NASDAQ:HOOD) Rating Reiterated by Needham & Company LLC

Robinhood Markets (NASDAQ:HOOD - Get Free Report)'s stock had its "hold" rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports.

Other equities research analysts have also issued reports about the company. KeyCorp boosted their target price on Robinhood Markets from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, April 22nd. Keefe, Bruyette & Woods started coverage on Robinhood Markets in a research note on Wednesday, April 3rd. They set a "market perform" rating and a $20.00 target price for the company. Citigroup lowered shares of Robinhood Markets from a "neutral" rating to a "sell" rating and lifted their price target for the company from $13.00 to $16.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley boosted their price objective on shares of Robinhood Markets from $11.00 to $18.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.96.

Robinhood Markets Trading Down 0.9 %

Robinhood Markets stock traded down $0.17 during mid-day trading on Monday, reaching $17.78. The company's stock had a trading volume of 18,638,136 shares, compared to its average volume of 14,007,728. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $20.55. The business has a 50 day moving average price of $17.70 and a 200-day moving average price of $13.24. The firm has a market cap of $15.55 billion, a price-to-earnings ratio of -29.63 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm had revenue of $471.00 million during the quarter, compared to analyst estimates of $454.73 million. During the same period last year, the company posted ($0.19) EPS. The firm's quarterly revenue was up 23.9% on a year-over-year basis. On average, equities analysts expect that Robinhood Markets will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, CEO Vladimir Tenev sold 500,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.12, for a total transaction of $7,560,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the sale, the chief financial officer now owns 916,267 shares in the company, valued at approximately $10,995,204. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vladimir Tenev sold 500,000 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.12, for a total value of $7,560,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,150,526 shares of company stock valued at $34,221,892. Insiders own 20.81% of the company's stock.

Institutional Investors Weigh In On Robinhood Markets

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Robinhood Markets by 15.5% in the third quarter. Bank of New York Mellon Corp now owns 2,419,817 shares of the company's stock worth $23,738,000 after purchasing an additional 325,506 shares in the last quarter. California Public Employees Retirement System grew its holdings in Robinhood Markets by 12.2% in the third quarter. California Public Employees Retirement System now owns 1,009,592 shares of the company's stock worth $9,904,000 after purchasing an additional 109,652 shares during the period. Seven Eight Capital LP acquired a new position in shares of Robinhood Markets during the third quarter valued at about $131,000. Quantbot Technologies LP grew its stake in shares of Robinhood Markets by 583.1% in the 3rd quarter. Quantbot Technologies LP now owns 132,612 shares of the company's stock valued at $1,301,000 after buying an additional 113,199 shares during the period. Finally, Gulf International Bank UK Ltd bought a new stake in shares of Robinhood Markets during the fourth quarter valued at approximately $764,000. 93.27% of the stock is owned by 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.