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

Robinhood Markets (NASDAQ:HOOD) was downgraded by equities research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Tuesday, MarketBeat Ratings reports.

HOOD has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Barclays upped their target price on shares of Robinhood Markets from $54.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price target on shares of Robinhood Markets from $24.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Piper Sandler increased their price objective 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. Finally, Mizuho raised their price objective on Robinhood Markets from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.53.

Robinhood Markets Stock Performance

HOOD opened at $59.23 on Tuesday. The stock has a market cap of $52.36 billion, a price-to-earnings ratio of 37.73, a price-to-earnings-growth ratio of 0.80 and a beta of 2.13. The firm’s fifty day moving average is $46.85 and its 200 day moving average is $33.40. Robinhood Markets has a fifty-two week low of $13.39 and a fifty-two week high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings results 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 return on equity of 13.96% and a net margin of 47.81%. On average, equities research analysts predict that Robinhood Markets will post 1.3 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Baiju Bhatt sold 186,514 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $38.13, for a total value of $7,111,778.82. Following the sale, the director now directly owns 2,521 shares of the company’s stock, valued at $96,125.73. This represents a 98.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $51.60, for a total value of $1,290,000.00. Following the transaction, the insider now owns 706,642 shares of the company’s stock, valued at $36,462,727.20. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,470,607 shares of company stock worth $197,745,930 over the last three months. 19.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

Several hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank boosted its stake in shares of Robinhood Markets by 31.1% during the third quarter. Toronto Dominion Bank now owns 68,408 shares of the company’s stock valued at $1,602,000 after purchasing an additional 16,219 shares during the period. Everence Capital Management Inc. bought a new stake in Robinhood Markets during the 4th quarter valued at about $634,000. Atomi Financial Group Inc. boosted its position in Robinhood Markets by 20.7% in the 4th quarter. Atomi Financial Group Inc. now owns 540,910 shares of the company’s stock valued at $20,154,000 after buying an additional 92,613 shares during the period. Requisite Capital Management LLC bought a new position in Robinhood Markets in the 4th quarter worth about $266,000. Finally, Baker Avenue Asset Management LP increased its position in shares of Robinhood Markets by 77.9% during the third quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock worth $10,874,000 after acquiring an additional 203,354 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.