Robinhood Markets (NASDAQ:HOOD – Get Free Report) had its target price decreased by investment analysts at Morgan Stanley from $13.00 to $12.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 29.17% from the company’s previous close.
Several other research firms also recently weighed in on HOOD. Mizuho upped their price target on shares of Robinhood Markets from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Barclays dropped their price objective on shares of Robinhood Markets from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Robinhood Markets from $11.00 to $10.00 in a research note on Wednesday. JMP Securities dropped their price objective on shares of Robinhood Markets from $25.00 to $24.00 and set a “market outperform” rating for the company in a research note on Tuesday. Finally, Piper Sandler upped their price objective on shares of Robinhood Markets from $11.00 to $11.50 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.95.
Read Our Latest Stock Analysis on HOOD
Robinhood Markets Stock Down 4.4 %
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05. Robinhood Markets had a negative net margin of 49.58% and a negative return on equity of 11.75%. The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate of $472.94 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. The company’s revenue for the quarter was up 52.8% on a year-over-year basis. As a group, sell-side analysts expect that Robinhood Markets will post -0.53 earnings per share for the current year.
Insider Activity
In other news, CEO Vladimir Tenev sold 29,604 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $12.45, for a total value of $368,569.80. Following the completion of the sale, the chief executive officer now owns 844,663 shares of the company’s stock, valued at approximately $10,516,054.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $12.69, for a total transaction of $63,450.00. Following the completion of the transaction, the chief financial officer now owns 703,325 shares of the company’s stock, valued at approximately $8,925,194.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 29,604 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $12.45, for a total transaction of $368,569.80. Following the transaction, the chief executive officer now directly owns 844,663 shares of the company’s stock, valued at approximately $10,516,054.35. The disclosure for this sale can be found here. Insiders sold a total of 499,932 shares of company stock valued at $5,437,784 in the last 90 days. Company insiders own 20.81% of the company’s stock.
Hedge Funds Weigh In On Robinhood Markets
A number of hedge funds have recently made changes to their positions in HOOD. Covestor Ltd purchased a new position in shares of Robinhood Markets during the 1st quarter worth approximately $28,000. Quantbot Technologies LP purchased a new position in shares of Robinhood Markets during the 2nd quarter worth approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Robinhood Markets during the 2nd quarter worth approximately $29,000. Partners Capital Investment Group LLP acquired a new stake in Robinhood Markets during the 1st quarter worth approximately $34,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Robinhood Markets during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 58.98% 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), options, gold, and cryptocurrencies. The company provides various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is an online collection of beginners' guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and Dow Jones; Snacks, an accessible digest of business news stories for new generation of investors.
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