Robinhood Markets (NASDAQ:HOOD) Downgraded by Wolfe Research to “Peer Perform”

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

Several other equities research analysts also recently weighed in on HOOD. Piper Sandler increased their price target on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on Robinhood Markets from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC boosted their target price on shares of Robinhood Markets from $52.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. KeyCorp raised their price target on shares of Robinhood Markets from $57.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Robinhood Markets from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Stock Down 7.4 %

Shares of HOOD opened at $60.44 on Tuesday. Robinhood Markets has a 52-week low of $13.39 and a 52-week high of $66.91. The company has a market cap of $53.43 billion, a PE ratio of 102.44, a P/E/G ratio of 0.73 and a beta of 2.13. The business has a fifty day moving average of $46.43 and a 200 day moving average of $33.22.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. As a group, research analysts anticipate that Robinhood Markets will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, Director Baiju Bhatt sold 522,180 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was 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 owns 5,042 shares of the company’s stock, valued at $316,133.40. This trade represents a 99.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven M. Quirk sold 19,861 shares of the stock in a transaction dated Sunday, December 1st. The shares were sold at an average price of $37.54, for a total value of $745,581.94. Following the completion of the sale, the insider now owns 395,166 shares of the company’s stock, valued at approximately $14,834,531.64. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,470,607 shares of company stock valued at $197,745,930. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

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