Robinhood Markets’ (HOOD) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Robinhood Markets (NASDAQ:HOOD) in a report released on Thursday, Benzinga reports. The brokerage currently has a $20.00 price target on the stock.

HOOD has been the topic of several other reports. Mizuho boosted their price target on Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a research note on Monday, May 6th. Morgan Stanley upped their target price on Robinhood Markets from $18.00 to $19.00 and gave the company an equal weight rating in a research note on Friday, May 10th. Bank of America upgraded shares of Robinhood Markets from an underperform rating to a buy rating and lifted their price target for the stock from $14.00 to $24.00 in a research note on Friday, May 17th. JMP Securities reissued a market outperform rating and issued a $30.00 price target on shares of Robinhood Markets in a report on Friday, June 7th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a market perform rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $21.70.

Robinhood Markets Price Performance

HOOD stock traded up $0.19 on Thursday, reaching $17.92. 17,129,013 shares of the company were exchanged, compared to its average volume of 16,360,838. The firm has a market capitalization of $15.75 billion, a PE ratio of 119.47 and a beta of 1.83. Robinhood Markets has a 12 month low of $7.91 and a 12 month high of $24.88. The stock’s fifty day moving average price is $21.73 and its 200 day moving average price is $18.36.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.06. The company had revenue of $682.00 million for the quarter, compared to analyst estimates of $640.39 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. As a group, research analysts expect that Robinhood Markets will post 0.57 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $21.03, for a total value of $5,257,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $21.25, for a total value of $106,250.00. Following the completion of the sale, the chief financial officer now directly owns 1,066,241 shares in the company, valued at $22,657,621.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $21.03, for a total value of $5,257,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,247,913 shares of company stock valued at $25,680,423. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Angeles Wealth Management LLC lifted its position in shares of Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after purchasing an additional 610 shares in the last quarter. GAMMA Investing LLC raised 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 worth $52,000 after purchasing an additional 710 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Robinhood Markets by 46.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. Commerce Bank lifted its holdings in Robinhood Markets by 7.9% during the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock worth $159,000 after buying an additional 917 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted 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 buying an additional 1,060 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.