Robinhood Markets (NASDAQ:HOOD) Stock Rating Lowered by Citigroup

Citigroup cut shares of Robinhood Markets (NASDAQ:HOOD) from a neutral rating to a sell rating in a research note published on Thursday morning, MarketBeat.com reports. They currently have $16.00 target price on the stock, up from their prior target price of $13.00.

Several other analysts have also recently commented on the stock. TheStreet upgraded shares of Robinhood Markets from a d+ rating to a c- rating in a report on Wednesday, February 28th. Piper Sandler increased their target price on shares of Robinhood Markets from $11.50 to $12.50 and gave the stock a neutral rating in a research report on Wednesday, February 14th. Morgan Stanley boosted their price target on shares of Robinhood Markets from $11.00 to $18.00 and gave the company an equal weight rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Robinhood Markets from $12.00 to $16.00 and gave the stock a hold rating in a research note on Tuesday, March 19th. Finally, KeyCorp lifted their price objective on Robinhood Markets from $15.00 to $22.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $17.81.

Robinhood Markets Stock Up 3.6 %

HOOD opened at $19.00 on Thursday. The firm has a market capitalization of $16.62 billion, a P/E ratio of -31.67 and a beta of 1.69. The stock has a fifty day moving average of $16.19 and a 200-day moving average of $12.34. Robinhood Markets has a 12-month low of $7.91 and a 12-month high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The firm had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. During the same period in the previous year, the firm earned ($0.19) earnings per share. Robinhood Markets’s quarterly revenue was up 23.9% on a year-over-year basis. On average, analysts expect that Robinhood Markets will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $10.61, for a total value of $2,652,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Baiju Bhatt sold 188,077 shares of Robinhood Markets stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $13.57, for a total value of $2,552,204.89. Following the transaction, the insider now owns 36,045 shares in the company, valued at approximately $489,130.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $10.61, for a total transaction of $2,652,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,212,150 shares of company stock worth $33,495,819. 20.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Robinhood Markets by 7,430.5% in the 1st quarter. Vanguard Group Inc. now owns 40,217,187 shares of the company’s stock worth $543,334,000 after buying an additional 39,683,128 shares during the period. BlackRock Inc. raised its stake in Robinhood Markets by 66.9% during the 3rd quarter. BlackRock Inc. now owns 19,731,132 shares of the company’s stock valued at $199,283,000 after purchasing an additional 7,910,391 shares during the last quarter. Norges Bank bought a new stake in Robinhood Markets in the 4th quarter valued at $84,165,000. State Street Corp grew its position in Robinhood Markets by 266.9% in the 2nd quarter. State Street Corp now owns 5,574,481 shares of the company’s stock worth $45,822,000 after purchasing an additional 4,055,065 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Robinhood Markets in the 1st quarter worth $52,986,000. 93.27% of the stock is currently owned by institutional investors.

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.