Robinhood Markets (NASDAQ:HOOD) Price Target Lowered to $62.00 at Needham & Company LLC

Robinhood Markets (NASDAQ:HOOD) had its target price reduced by Needham & Company LLC from $70.00 to $62.00 in a report published on Friday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. KeyCorp upped their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Cantor Fitzgerald initiated coverage on Robinhood Markets in a report on Thursday, March 6th. They issued an “overweight” rating and a $69.00 target price for the company. The Goldman Sachs Group upgraded Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $46.00 in a report on Friday, December 6th. Keefe, Bruyette & Woods upped their price objective on shares of Robinhood Markets from $38.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Finally, Citigroup raised their price objective on shares of Robinhood Markets from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $60.82.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $41.92 on Friday. The business has a fifty day moving average price of $49.16 and a 200 day moving average price of $38.32. The company has a market cap of $37.12 billion, a P/E ratio of 26.70, a P/E/G ratio of 1.05 and a beta of 2.14. Robinhood Markets has a one year low of $13.98 and a one year high of $66.91.

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

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 750,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $39.16, for a total transaction of $29,370,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Baiju Bhatt sold 47,023 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $46.37, for a total transaction of $2,180,456.51. Following the completion of the transaction, the director now directly owns 5,042 shares of the company’s stock, valued at $233,797.54. This represents a 90.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,955,655 shares of company stock worth $143,072,448 over the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds have recently modified their holdings of HOOD. New Wave Wealth Advisors LLC purchased a new stake in Robinhood Markets during the 4th quarter worth about $26,000. CoreCap Advisors LLC grew its position in shares of Robinhood Markets by 191.6% during the fourth quarter. CoreCap Advisors LLC now owns 837 shares of the company’s stock worth $31,000 after buying an additional 550 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Robinhood Markets by 750.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 850 shares of the company’s stock worth $32,000 after buying an additional 750 shares during the period. Colonial Trust Co SC acquired a new stake in Robinhood Markets in the fourth quarter valued at approximately $34,000. Finally, Silicon Valley Capital Partners purchased a new position in Robinhood Markets in the fourth quarter worth approximately $37,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.