Robinhood Markets (NASDAQ:HOOD) Cut 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 note published on Tuesday, Marketbeat.com reports.

Several other analysts also recently weighed in on HOOD. JMP Securities lifted their target price on shares of Robinhood Markets from $60.00 to $77.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Sanford C. Bernstein lifted their target price on shares of Robinhood Markets from $30.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Piper Sandler lifted their target price on shares of Robinhood Markets from $54.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Mizuho lifted their target price on shares of Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup lifted their target price on shares of Robinhood Markets from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Robinhood Markets has a consensus rating of “Moderate Buy” and a consensus price target of $59.53.

Robinhood Markets Stock Performance

NASDAQ HOOD opened at $56.06 on Tuesday. The firm has a market cap of $49.56 billion, a PE ratio of 35.71, a P/E/G ratio of 1.13 and a beta of 2.13. Robinhood Markets has a one year low of $13.39 and a one year high of $66.91. The firm’s fifty day moving average is $47.19 and its two-hundred day moving average is $33.56.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.96%. Research analysts predict that Robinhood Markets will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Meyer Malka sold 1,535,681 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.11, for a total value of $61,596,164.91. Following the completion of the transaction, the director now owns 4,974,238 shares of the company’s stock, valued at $199,516,686.18. The trade was a 23.59 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction that occurred on Thursday, February 13th. The shares were 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 directly owns 5,042 shares of the company’s stock, valued at approximately $316,133.40. This represents a 99.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,520,607 shares of company stock valued at $200,784,430. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently bought and sold shares of HOOD. FMR LLC increased 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 purchasing an additional 26,107,934 shares during the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $329,598,000. GQG Partners LLC acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $302,325,000. Artisan Partners Limited Partnership acquired a new stake in shares of Robinhood Markets in the fourth quarter worth $152,949,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Robinhood Markets by 335.6% in the fourth 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 in the last quarter. 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.