Robinhood Markets (NASDAQ:HOOD) Upgraded to Outperform at Wolfe Research

Wolfe Research upgraded shares of Robinhood Markets (NASDAQ:HOOD) from a peer perform rating to an outperform rating in a research note issued to investors on Wednesday morning, MarketBeat.com reports. Wolfe Research currently has $29.00 target price on the stock.

HOOD has been the topic of a number of other reports. The Goldman Sachs Group raised their price target on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a neutral rating in a research note on Monday, April 15th. Sanford C. Bernstein assumed coverage on Robinhood Markets in a research report on Thursday, March 14th. They set an outperform rating and a $30.00 target price for the company. TheStreet raised shares of Robinhood Markets from a d+ rating to a c- rating in a research report on Wednesday, February 28th. Morgan Stanley lifted their target price on shares of Robinhood Markets from $18.00 to $19.00 and gave the stock an equal weight rating in a research note on Friday, May 10th. Finally, Barclays increased their price target on Robinhood Markets from $16.00 to $18.00 and gave the stock an underweight rating in a report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $20.77.

Robinhood Markets Trading Up 0.8 %

NASDAQ HOOD opened at $22.31 on Wednesday. The firm’s 50 day simple moving average is $19.84 and its 200 day simple moving average is $16.30. The firm has a market capitalization of $19.61 billion, a price-to-earnings ratio of 148.73 and a beta of 1.83. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. The firm had revenue of $618.00 million for the quarter, compared to the consensus estimate of $552.74 million. During the same quarter last year, the business posted ($0.57) EPS. The company’s revenue was up 40.1% compared to the same quarter last year. On average, equities research analysts forecast that Robinhood Markets will post 0.56 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 121,226 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $21.63, for a total transaction of $2,622,118.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Robinhood Markets news, Director Baiju Bhatt sold 121,226 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $21.63, for a total value of $2,622,118.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $21.05, for a total transaction of $263,125.00. Following the transaction, the insider now owns 943,815 shares of the company’s stock, valued at approximately $19,867,305.75. The disclosure for this sale can be found here. Insiders have sold 1,486,733 shares of company stock worth $28,618,091 in the last ninety days. Company insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Angeles Wealth Management LLC lifted its holdings in shares of Robinhood Markets by 5.3% in the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after buying an additional 610 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares in the last quarter. Commerce Bank boosted its holdings in Robinhood Markets by 7.9% in the 4th quarter. Commerce Bank now owns 12,459 shares of the company’s stock valued at $159,000 after purchasing an additional 917 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Robinhood Markets by 4.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 23,642 shares of the company’s stock valued at $310,000 after purchasing an additional 1,060 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of Robinhood Markets by 25.8% in the first quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock worth $117,000 after purchasing an additional 1,194 shares during the period. 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.