Robinhood Markets (NASDAQ:HOOD – Get Rating) had its price objective reduced by investment analysts at Barclays from $11.00 to $10.00 in a report issued on Wednesday, The Fly reports. Barclays’s price target indicates a potential upside of 7.07% from the company’s current price.
Several other analysts have also recently weighed in on HOOD. KeyCorp cut their price objective on Robinhood Markets from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, January 9th. JPMorgan Chase & Co. lifted their price objective on Robinhood Markets from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Thursday, February 9th. Morgan Stanley cut their price objective on Robinhood Markets from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 11th. JMP Securities reiterated a “market outperform” rating and set a $25.00 target price on shares of Robinhood Markets in a report on Monday, March 13th. Finally, Citigroup downgraded Robinhood Markets from a “buy” rating to a “neutral” rating and cut their price target for the stock from $11.00 to $10.00 in a research note on Monday, December 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.75.
Robinhood Markets Price Performance
NASDAQ HOOD opened at $9.34 on Wednesday. The stock has a market capitalization of $8.37 billion, a PE ratio of -1.34 and a beta of 1.13. Robinhood Markets has a 1 year low of $6.81 and a 1 year high of $16.49. The business’s 50-day moving average is $9.79 and its 200 day moving average is $9.74.
Robinhood Markets (NASDAQ:HOOD – Get Rating) last posted its earnings results on Wednesday, February 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). The business had revenue of $380.00 million during the quarter, compared to the consensus estimate of $395.16 million. Robinhood Markets had a negative return on equity of 8.40% and a negative net margin of 131.63%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.49) earnings per share. As a group, equities research analysts anticipate that Robinhood Markets will post -0.72 earnings per share for the current year.
Insider Activity at Robinhood Markets
In related news, insider Baiju Bhatt sold 106,061 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $8.53, for a total transaction of $904,700.33. Following the sale, the insider now directly owns 1,185,047 shares of the company’s stock, valued at $10,108,450.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Robinhood Markets news, CEO Vladimir Tenev sold 83,333 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $8.24, for a total value of $686,663.92. Following the transaction, the chief executive officer now directly owns 1,244,603 shares of the company’s stock, valued at $10,255,528.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Baiju Bhatt sold 106,061 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $8.53, for a total value of $904,700.33. Following the completion of the transaction, the insider now directly owns 1,185,047 shares in the company, valued at $10,108,450.91. The disclosure for this sale can be found here. Insiders have sold 600,399 shares of company stock valued at $5,671,712 over the last ninety days. Insiders own 15.31% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of HOOD. Covestor Ltd purchased a new position in Robinhood Markets in the first quarter worth about $28,000. Quantbot Technologies LP purchased a new position in Robinhood Markets in the second quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Robinhood Markets during the 2nd quarter valued at about $29,000. HBK Sorce Advisory LLC lifted its position in shares of Robinhood Markets by 99.4% during the 4th quarter. HBK Sorce Advisory LLC now owns 30,000 shares of the company’s stock valued at $32,000 after buying an additional 14,956 shares in the last quarter. Finally, Seeyond purchased a new position in shares of Robinhood Markets during the 2nd quarter valued at about $43,000. 58.81% of the stock is owned by hedge funds and other 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), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.