Robinhood Markets (NASDAQ:HOOD) Given "Market Outperform" Rating at JMP Securities

Robinhood Markets (NASDAQ:HOOD - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities researchers at JMP Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $70.00 target price on the stock. JMP Securities' price objective would indicate a potential upside of 48.10% from the company's current price.

Several other analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Robinhood Markets from $75.00 to $61.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Raymond James initiated coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They set a "market perform" rating on the stock. KeyCorp lowered their price objective on shares of Robinhood Markets from $75.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Citigroup decreased their price objective on Robinhood Markets from $60.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Finally, Wolfe Research downgraded shares of Robinhood Markets from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.24.

Robinhood Markets Trading Down 3.8 %

Shares of Robinhood Markets stock traded down $1.84 during trading on Thursday, hitting $47.27. 65,663,799 shares of the stock traded hands, compared to its average volume of 25,395,201. The stock's fifty day simple moving average is $43.10 and its 200 day simple moving average is $41.27. Robinhood Markets has a 52-week low of $13.98 and a 52-week high of $66.91. The firm has a market cap of $41.85 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 1.05 and a beta of 2.17.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. The firm had revenue of $927.00 million for the quarter, compared to analysts' expectations of $917.12 million. During the same period in the previous year, the company earned $0.18 earnings per share. The company's revenue was up 50.0% compared to the same quarter last year. As a group, equities analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Insider Activity at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of Robinhood Markets stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total transaction of $1,290,000.00. Following the sale, the insider now directly owns 706,642 shares in the company, valued at $36,462,727.20. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $46.81, for a total value of $273,978.93. Following the completion of the transaction, the chief technology officer now directly owns 17,559 shares in the company, valued at approximately $821,936.79. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,334,593 shares of company stock worth $114,815,021 in the last 90 days. Corporate insiders own 19.95% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HOOD. Whipplewood Advisors LLC raised its stake in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company's stock valued at $25,000 after purchasing an additional 508 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $26,000. Wayfinding Financial LLC bought a new position in Robinhood Markets in the first quarter valued at $30,000. CoreCap Advisors LLC raised its holdings in shares of Robinhood Markets by 191.6% in the 4th quarter. CoreCap Advisors LLC now owns 837 shares of the company's stock valued at $31,000 after purchasing an additional 550 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its position in Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company's stock worth $32,000 after acquiring an additional 750 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

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.

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