Needham & Company LLC Reaffirms “Hold” Rating for Robinhood Markets (NASDAQ:HOOD)

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

Several other brokerages have also issued reports on HOOD. Barclays lifted their price target on shares of Robinhood Markets from $11.00 to $16.00 and gave the company an underweight rating in a report on Monday, April 8th. Sanford C. Bernstein began coverage on Robinhood Markets in a research note on Thursday, March 14th. They issued an outperform rating and a $30.00 price target for the company. KeyCorp boosted their price objective on Robinhood Markets from $22.00 to $23.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $10.00 to $12.00 and gave the company an underweight rating in a research report on Wednesday, February 14th. Finally, The Goldman Sachs Group boosted their price target on Robinhood Markets from $18.00 to $20.00 and gave the stock a neutral rating in a report on Monday, April 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $18.96.

Robinhood Markets Price Performance

Shares of NASDAQ:HOOD opened at $17.85 on Monday. The company’s 50 day simple moving average is $17.78 and its 200 day simple moving average is $13.37. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $20.55. The stock has a market capitalization of $15.61 billion, a price-to-earnings ratio of -29.75 and a beta of 1.74.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. Robinhood Markets had a negative return on equity of 7.87% and a negative net margin of 29.01%. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) EPS. As a group, analysts anticipate that Robinhood Markets will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets news, CFO Jason Warnick sold 5,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 916,267 shares in the company, valued at $10,995,204. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Baiju Bhatt sold 188,077 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $13.57, for a total transaction of $2,552,204.89. Following the transaction, the insider now directly owns 36,045 shares of the company’s stock, valued at $489,130.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Warnick sold 5,000 shares of Robinhood Markets stock in a transaction on Monday, February 12th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 916,267 shares of the company’s stock, valued at approximately $10,995,204. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,413,026 shares of company stock valued at $38,927,267. 20.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in Robinhood Markets by 15.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,419,817 shares of the company’s stock valued at $23,738,000 after buying an additional 325,506 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Robinhood Markets by 12.2% in the third quarter. California Public Employees Retirement System now owns 1,009,592 shares of the company’s stock valued at $9,904,000 after purchasing an additional 109,652 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Robinhood Markets during the third quarter valued at about $131,000. Quantbot Technologies LP boosted its holdings in Robinhood Markets by 583.1% during the third quarter. Quantbot Technologies LP now owns 132,612 shares of the company’s stock worth $1,301,000 after purchasing an additional 113,199 shares during the last quarter. Finally, Gulf International Bank UK Ltd bought a new stake in Robinhood Markets in the 4th quarter worth about $764,000. 93.27% of the stock is owned by institutional investors.

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.