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

Robinhood Markets (NASDAQ:HOOD) had its price objective dropped by equities research analysts at Citigroup from $60.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 15.23% from the company’s current price.

A number of other brokerages also recently weighed in on HOOD. JPMorgan Chase & Co. upped their target price on Robinhood Markets from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Barclays increased their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Wolfe Research cut shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group raised Robinhood Markets from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $40.00 to $46.00 in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets currently has a consensus rating of “Moderate Buy” and an average target price of $60.24.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD traded up $1.23 during mid-day trading on Wednesday, hitting $43.39. The stock had a trading volume of 24,999,796 shares, compared to its average volume of 22,018,155. Robinhood Markets has a 12-month low of $13.98 and a 12-month high of $66.91. The company has a market cap of $38.42 billion, a PE ratio of 27.64, a P/E/G ratio of 1.05 and a beta of 2.14. The company’s 50 day moving average is $48.88 and its 200-day moving average is $38.60.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping 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%. On average, equities research analysts predict that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 100,000 shares of Robinhood Markets stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $40.45, for a total value of $4,045,000.00. Following the transaction, the insider now directly owns 731,642 shares of the company’s stock, valued at $29,594,918.90. The trade was a 12.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Baiju Bhatt sold 522,180 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were 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 directly owns 5,042 shares of the company’s stock, valued at $316,133.40. This represents a 99.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,955,655 shares of company stock valued at $143,072,448 in the last quarter. Insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Several hedge funds and other institutional investors have recently bought and sold shares of HOOD. FMR LLC grew its position in Robinhood Markets by 184.8% during the fourth quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after buying an additional 26,107,934 shares in the last quarter. Newlands Management Operations LLC lifted its position in shares of Robinhood Markets by 1.1% in the 4th quarter. Newlands Management Operations LLC now owns 24,158,860 shares of the company’s stock worth $900,159,000 after acquiring an additional 273,860 shares during the period. State Street Corp grew its holdings in shares of Robinhood Markets by 8.7% during the 3rd quarter. State Street Corp now owns 13,558,321 shares of the company’s stock worth $317,536,000 after purchasing an additional 1,085,679 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Robinhood Markets by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 12,175,972 shares of the company’s stock valued at $455,464,000 after purchasing an additional 555,299 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Robinhood Markets by 34.4% in the fourth quarter. Renaissance Technologies LLC now owns 12,078,116 shares of the company’s stock valued at $450,031,000 after purchasing an additional 3,091,514 shares in the last quarter. 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.