Robinhood Markets (NASDAQ:HOOD) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a hold rating to a buy rating in a report issued on Monday morning, Marketbeat.com reports. The brokerage currently has $40.00 target price on the stock.

A number of other equities research analysts have also recently commented on HOOD. Barclays increased their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, October 17th. Morgan Stanley increased their price target on Robinhood Markets from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. KeyCorp raised their price target on Robinhood Markets from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, The Goldman Sachs Group cut their price objective on shares of Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.66.

Robinhood Markets Trading Down 2.4 %

Shares of NASDAQ HOOD opened at $35.22 on Monday. Robinhood Markets has a 12-month low of $7.98 and a 12-month high of $38.11. The stock’s fifty day simple moving average is $26.67 and its two-hundred day simple moving average is $22.80. The stock has a market capitalization of $31.14 billion, a PE ratio of 59.70, a price-to-earnings-growth ratio of 0.82 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. Robinhood Markets’s revenue for the quarter was up 36.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. On average, equities analysts predict that Robinhood Markets will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, Director Meyer Malka sold 105,875 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the completion of the transaction, the director now owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason Warnick sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $20.96, for a total value of $524,000.00. Following the sale, the chief financial officer now owns 1,077,162 shares in the company, valued at $22,577,315.52. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,710,549 shares of company stock worth $115,477,194 over the last quarter. 19.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. HM Payson & Co. increased its holdings in Robinhood Markets by 53.5% in the 3rd quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock worth $28,000 after acquiring an additional 410 shares in the last quarter. Eastern Bank acquired a new position in shares of Robinhood Markets during the 3rd quarter worth about $30,000. True Wealth Design LLC purchased a new position in Robinhood Markets in the 3rd quarter valued at about $30,000. ORG Partners LLC purchased a new position in Robinhood Markets in the 2nd quarter valued at about $33,000. Finally, ORG Wealth Partners LLC acquired a new stake in Robinhood Markets in the 3rd quarter worth about $33,000. 93.27% of the stock is 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.