Robinhood Markets (NASDAQ:HOOD) Downgraded by Morgan Stanley to “Equal Weight”

Robinhood Markets (NASDAQ:HOOD) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. They currently have a $40.00 target price on the stock. Morgan Stanley’s price target would suggest a potential upside of 8.44% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Needham & Company LLC lowered their target price on shares of Robinhood Markets from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Piper Sandler raised their price objective on shares of Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 price objective on shares of Robinhood Markets in a research report on Thursday, March 27th. Citigroup cut their price target on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Finally, JMP Securities boosted their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.47.

Robinhood Markets Trading Up 6.9 %

NASDAQ HOOD opened at $36.89 on Tuesday. The firm’s 50 day simple moving average is $47.91 and its 200 day simple moving average is $39.02. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.05 and a beta of 2.17. Robinhood Markets has a 1 year low of $13.98 and a 1 year high of $66.91.

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

Insider Activity at Robinhood Markets

In other Robinhood Markets news, 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 transaction of $32,740,686.00. Following the completion of the transaction, the director now owns 5,042 shares of the company’s stock, valued at $316,133.40. This represents a 99.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Tenev sold 500,000 shares of Robinhood Markets stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $50.77, for a total value of $25,385,000.00. The disclosure for this sale can be found here. Insiders sold 2,646,134 shares of company stock worth $132,604,246 in the last three months. 19.95% of the stock is owned by insiders.

Institutional Trading of Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its position in shares of Robinhood Markets by 31.1% in the 3rd quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock worth $1,602,000 after purchasing an additional 16,219 shares during the period. IFP Advisors Inc raised its holdings in Robinhood Markets by 601.1% in the 4th quarter. IFP Advisors Inc now owns 4,396 shares of the company’s stock worth $164,000 after acquiring an additional 3,769 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Robinhood Markets in the 4th quarter worth $634,000. Charles Schwab Investment Management Inc. raised its stake in shares of Robinhood Markets by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,719,732 shares of the company’s stock worth $175,857,000 after purchasing an additional 138,267 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Robinhood Markets by 20.7% during the fourth quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after purchasing an additional 92,613 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.