Robinhood Markets (NASDAQ:HOOD) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Robinhood Markets (NASDAQ:HOOD) in a report issued on Thursday, Benzinga reports.

A number of other analysts also recently issued reports on HOOD. Wolfe Research raised shares of Robinhood Markets from a peer perform rating to an outperform rating and set a $29.00 price objective for the company in a report on Wednesday, June 26th. Bank of America raised shares of Robinhood Markets from an underperform rating to a buy rating and boosted their price objective for the company from $14.00 to $24.00 in a report on Friday, May 17th. KeyCorp boosted their price objective on shares of Robinhood Markets from $23.00 to $25.00 and gave the company an overweight rating in a report on Friday, July 19th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a neutral rating in a report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $19.00 to $20.00 and gave the company a hold rating in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $21.70.

Robinhood Markets Stock Performance

Shares of HOOD opened at $17.92 on Thursday. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $24.88. The firm has a market cap of $15.75 billion, a P/E ratio of 119.47 and a beta of 1.83. The firm’s 50-day simple moving average is $21.73 and its 200 day simple moving average is $18.47.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the prior year, the business earned $0.03 EPS. Robinhood Markets’s quarterly revenue was up 40.3% on a year-over-year basis. As a group, equities analysts forecast that Robinhood Markets will post 0.57 earnings per share for the current year.

Insider Activity at Robinhood Markets

In related news, CEO Vladimir Tenev sold 47,570 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $21.12, for a total value of $1,004,678.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Vladimir Tenev sold 47,570 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $21.12, for a total value of $1,004,678.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Baiju Bhatt sold 16,667 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $18.27, for a total transaction of $304,506.09. The disclosure for this sale can be found here. Insiders sold a total of 1,247,913 shares of company stock valued at $25,680,423 in the last quarter. Insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Angeles Wealth Management LLC increased its position in Robinhood Markets by 5.3% in the 1st quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock valued at $246,000 after acquiring an additional 610 shares during the period. GAMMA Investing LLC increased its position in Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock valued at $52,000 after acquiring an additional 710 shares during the period. PNC Financial Services Group Inc. increased its position in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after acquiring an additional 722 shares during the period. Commerce Bank increased its position in Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after acquiring an additional 917 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Robinhood Markets by 4.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after acquiring an additional 1,060 shares during the period. 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.