Robinhood Markets (NASDAQ:HOOD) Rating Lowered to Peer Perform at Wolfe Research

Wolfe Research cut shares of Robinhood Markets (NASDAQ:HOOD) from an outperform rating to a peer perform rating in a research report released on Tuesday morning, MarketBeat reports.

Several other brokerages also recently weighed in on HOOD. KeyCorp upped their target price on shares of Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Raymond James started coverage on shares of Robinhood Markets in a research note on Wednesday, February 5th. They issued a “market perform” rating for the company. Morgan Stanley upped their target price on shares of Robinhood Markets from $64.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded shares of Robinhood Markets from a “neutral” rating to a “buy” rating and upped their target price for the company from $40.00 to $46.00 in a research note on Friday, December 6th. Finally, Piper Sandler upped their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Stock Down 5.4 %

Robinhood Markets stock opened at $56.06 on Tuesday. Robinhood Markets has a 52-week low of $13.39 and a 52-week high of $66.91. The firm has a fifty day moving average of $47.19 and a 200-day moving average of $33.56. The firm has a market capitalization of $49.56 billion, a P/E ratio of 35.71, a PEG ratio of 1.13 and a beta of 2.13.

Robinhood Markets (NASDAQ:HOOD) last announced 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 net margin of 47.81% and a return on equity of 13.96%. On average, research analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Robinhood Markets news, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction on Sunday, December 1st. The shares were sold at an average price of $37.54, for a total transaction of $745,581.94. Following the sale, the insider now directly owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meyer Malka sold 1,535,681 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.11, for a total transaction of $61,596,164.91. Following the sale, the director now directly owns 4,974,238 shares in the company, valued at $199,516,686.18. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,520,607 shares of company stock valued at $200,784,430. Company insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

A number of large investors have recently modified their holdings of HOOD. FMR LLC increased its holdings in shares of Robinhood Markets by 184.8% in the 4th quarter. FMR LLC now owns 40,237,478 shares of the company’s stock worth $1,499,248,000 after acquiring an additional 26,107,934 shares during the period. Norges Bank acquired a new stake in shares of Robinhood Markets in the 4th quarter worth about $329,598,000. GQG Partners LLC acquired a new stake in shares of Robinhood Markets in the 4th quarter worth about $302,325,000. Artisan Partners Limited Partnership acquired a new stake in shares of Robinhood Markets in the 4th quarter worth about $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Robinhood Markets by 335.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,185,225 shares of the company’s stock worth $193,202,000 after acquiring an additional 3,994,745 shares during the period. Institutional investors and hedge funds 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.