Needham & Company LLC Reaffirms “Hold” Rating for Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their target price on Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Citigroup cut Robinhood Markets from a “neutral” rating to a “sell” rating and raised their price objective for the company from $13.00 to $16.00 in a research note on Thursday, April 11th. Mizuho raised their price objective on Robinhood Markets from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Monday. TheStreet raised Robinhood Markets from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th. Finally, 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 price objective on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.96.

Robinhood Markets Stock Up 1.2 %

HOOD opened at $17.99 on Monday. The stock has a market cap of $15.73 billion, a PE ratio of -29.98 and a beta of 1.74. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $20.55. The business’s fifty day simple moving average is $17.75 and its 200 day simple moving average is $13.31.

Robinhood Markets (NASDAQ:HOOD) last released its earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. As a group, equities analysts anticipate that Robinhood Markets will post 0.29 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.83, for a total value of $222,875.00. Following the completion of the sale, the insider now directly owns 854,995 shares in the company, valued at $15,244,560.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.83, for a total value of $222,875.00. Following the completion of the sale, the insider now directly owns 854,995 shares in the company, valued at $15,244,560.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vladimir Tenev sold 500,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.12, for a total transaction of $7,560,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,163,026 shares of company stock worth $34,444,767. Company insiders own 20.81% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in shares of Robinhood Markets by 62.5% during the first quarter. SG Americas Securities LLC now owns 283,684 shares of the company’s stock valued at $5,711,000 after purchasing an additional 109,059 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Robinhood Markets during the first quarter valued at approximately $262,000. Deuterium Capital Management LLC purchased a new position in shares of Robinhood Markets during the first quarter valued at approximately $252,000. Quantbot Technologies LP purchased a new position in shares of Robinhood Markets during the first quarter valued at approximately $521,000. Finally, Duality Advisers LP purchased a new position in shares of Robinhood Markets during the first quarter valued at approximately $3,364,000. 93.27% of the stock is currently 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), 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.