Weiss Ratings Reaffirms Hold (C) Rating for Robinhood Markets (NASDAQ:HOOD)

Key Points

• Weiss Ratings has reaffirmed a "hold (c)" rating for Robinhood Markets (NASDAQ:HOOD), indicating a cautious outlook for investors.
• Robinhood’s stock reported a recent increase of 4.1%, trading up at $139.79 with a market capitalization of $124.23 billion.
• Analysts maintain a consensus rating of "Moderate Buy" with an average price target of $118.94 for Robinhood shares, highlighting positive sentiment in the market.

Robinhood Markets (NASDAQ:HOOD - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Several other research analysts also recently issued reports on HOOD. The Goldman Sachs Group lifted their price target on Robinhood Markets from $134.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Citizens Jmp upped their price objective on shares of Robinhood Markets from $130.00 to $170.00 and gave the company a "mkt outperform" rating in a research note on Thursday, October 9th. KeyCorp boosted their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Cantor Fitzgerald upped their price target on Robinhood Markets from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, JMP Securities raised their price target on shares of Robinhood Markets from $130.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 9th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Robinhood Markets Stock Up 4.1%

NASDAQ:HOOD traded up $5.46 on Friday, reaching $139.79. 24,247,531 shares of the company's stock were exchanged, compared to its average volume of 31,021,190. The firm has a market capitalization of $124.23 billion, a price-to-earnings ratio of 70.96, a price-to-earnings-growth ratio of 3.49 and a beta of 2.42. The business has a fifty day moving average of $123.41 and a 200-day moving average of $92.29. Robinhood Markets has a 52-week low of $23.00 and a 52-week high of $153.86.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.12. The firm had revenue of $989.00 million for the quarter, compared to analyst estimates of $893.93 million. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, equities analysts anticipate that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 750,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $139.73, for a total value of $104,797,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Quirk sold 60,113 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the transaction, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. This represents a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,175,598 shares of company stock worth $579,779,430 in the last three months. Insiders own 14.47% of the company's stock.

Institutional Trading of Robinhood Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC boosted its stake in shares of Robinhood Markets by 3,615.7% during the 2nd quarter. WCM Investment Management LLC now owns 11,555,160 shares of the company's stock worth $1,081,910,000 after acquiring an additional 11,244,182 shares during the period. Norges Bank acquired a new position in Robinhood Markets in the 2nd quarter worth about $973,122,000. Kingstone Capital Partners Texas LLC acquired a new position in Robinhood Markets in the 2nd quarter worth about $951,479,000. Vanguard Group Inc. grew its position in shares of Robinhood Markets by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 74,241,080 shares of the company's stock valued at $3,089,914,000 after buying an additional 5,874,701 shares during the last quarter. Finally, AGF Management Ltd. grew its position in shares of Robinhood Markets by 286.0% in the 1st quarter. AGF Management Ltd. now owns 5,743,715 shares of the company's stock valued at $239,053,000 after buying an additional 4,255,862 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.