Citigroup Lowers Robinhood Markets (NASDAQ:HOOD) Price Target to $50.00

Robinhood Markets (NASDAQ:HOOD) had its target price lowered by stock analysts at Citigroup from $60.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 30.68% from the stock’s previous close.

HOOD has been the topic of a number of other reports. JMP Securities raised their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on shares of Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Mizuho boosted their price target on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Morgan Stanley increased their price objective on Robinhood Markets from $64.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $60.24.

Robinhood Markets Price Performance

Shares of HOOD opened at $38.26 on Wednesday. The firm has a fifty day moving average price of $48.49 and a 200 day moving average price of $38.62. The stock has a market cap of $33.88 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.05 and a beta of 2.14. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, equities analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 750,000 shares of Robinhood Markets stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $41.96, for a total transaction of $31,470,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Baiju Bhatt sold 522,180 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $62.70, for a total value of $32,740,686.00. Following the completion of the sale, the director now owns 5,042 shares in the company, valued at approximately $316,133.40. This represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,627,010 shares of company stock valued at $131,897,049 in the last ninety days. 19.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HOOD. New Wave Wealth Advisors LLC purchased a new position in Robinhood Markets during the 4th quarter valued at about $26,000. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% in the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Robinhood Markets by 750.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after purchasing an additional 750 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Robinhood Markets by 139.9% during the 1st 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. Finally, Colonial Trust Co SC purchased a new stake in Robinhood Markets in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors 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.