Robinhood Markets (NASDAQ:HOOD) Given New $50.00 Price Target at Citigroup

Robinhood Markets (NASDAQ:HOOD) had its price target reduced by Citigroup from $60.00 to $50.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently commented on HOOD. Cantor Fitzgerald initiated coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 price objective on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price target on shares of Robinhood Markets in a report on Thursday, March 27th. Piper Sandler boosted their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Raymond James started coverage on shares of Robinhood Markets in a research report on Wednesday, February 5th. They issued a “market perform” rating on the stock. Finally, Needham & Company LLC dropped their price target on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.24.

Robinhood Markets Trading Up 1.2 %

NASDAQ:HOOD opened at $42.68 on Wednesday. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $66.91. The company has a market cap of $37.79 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.05 and a beta of 2.14. The company’s 50-day moving average price is $48.73 and its 200-day moving average price is $38.63.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. On average, analysts expect that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 228,645 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $40.37, for a total transaction of $9,230,398.65. Following the transaction, the director now owns 5,042 shares of the company’s stock, valued at approximately $203,545.54. This trade represents a 97.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $40.45, for a total value of $4,045,000.00. Following the completion of the sale, the insider now directly owns 731,642 shares of the company’s stock, valued at approximately $29,594,918.90. This trade represents a 12.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,205,655 shares of company stock worth $113,702,448. Corporate insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently added to or reduced their stakes in the company. Kera Capital Partners Inc. acquired a new position in Robinhood Markets during the first quarter worth $4,272,000. MassMutual Private Wealth & Trust FSB raised its holdings in Robinhood Markets by 139.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after purchasing an additional 498 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Robinhood Markets in the 4th quarter worth about $588,000. Kilter Group LLC purchased a new stake in shares of Robinhood Markets in the fourth quarter valued at about $240,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in Robinhood Markets in the 4th quarter valued at approximately $217,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.