Redburn Atlantic Reiterates Sell Rating for Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “sell” rating reissued by equities researchers at Redburn Atlantic in a research note issued on Monday, Marketbeat.com reports. They presently have a $48.00 price target on the stock, up from their prior price target of $40.00. Redburn Atlantic’s target price would indicate a potential downside of 33.80% from the stock’s current price.

HOOD has been the topic of a number of other reports. Needham & Company LLC reissued a “buy” rating and set a $71.00 price objective on shares of Robinhood Markets in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Barclays lowered their price objective on shares of Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. boosted their target price on shares of Robinhood Markets from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $70.00 price target on shares of Robinhood Markets in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.17.

Robinhood Markets Stock Down 1.2%

Shares of HOOD stock opened at $72.51 on Monday. Robinhood Markets has a 12 month low of $13.98 and a 12 month high of $77.80. The company has a market cap of $64.20 billion, a PE ratio of 46.19, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. The business’s 50 day moving average is $53.87 and its two-hundred day moving average is $47.97.

Robinhood Markets (NASDAQ:HOOD) last posted its earnings results on Wednesday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The firm had revenue of $927.00 million during the quarter, compared to analyst estimates of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. The business’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, equities analysts expect that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of Robinhood Markets stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $34.51, for a total transaction of $201,987.03. Following the completion of the transaction, the chief technology officer now directly owns 5,853 shares of the company’s stock, valued at $201,987.03. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Baiju Bhatt sold 223,528 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $43.21, for a total transaction of $9,658,644.88. Following the completion of the transaction, the director now owns 5,042 shares in the company, valued at approximately $217,864.82. This trade represents a 97.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,232,636 shares of company stock valued at $111,898,793 in the last 90 days. 14.47% of the stock is owned by corporate insiders.

Institutional Trading of Robinhood Markets

Several hedge funds have recently modified their holdings of the company. Whipplewood Advisors LLC increased its holdings in Robinhood Markets by 564.4% during the 1st quarter. Whipplewood Advisors LLC now owns 598 shares of the company’s stock valued at $25,000 after purchasing an additional 508 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of Robinhood Markets by 52.2% during the first quarter. Hemington Wealth Management now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 218 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Robinhood Markets in the first quarter valued at $30,000. Pandora Wealth Inc. bought a new position in shares of Robinhood Markets in the first quarter valued at about $33,000. Finally, CoreCap Advisors LLC raised 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 buying an additional 550 shares during the last quarter. 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.