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

Robinhood Markets (NASDAQ:HOOD)‘s stock had its “sell” rating restated by Redburn Atlantic in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They currently have a $48.00 target price on the stock. Redburn Atlantic’s target price would indicate a potential downside of 32.02% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Compass Point started coverage on shares of Robinhood Markets in a research report on Wednesday, March 19th. They issued a “buy” rating and a $61.00 price objective on the stock. Cantor Fitzgerald decreased their price target on shares of Robinhood Markets from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. JMP Securities restated a “market outperform” rating and set a $70.00 price objective on shares of Robinhood Markets in a research report on Thursday, May 1st. Wolfe Research downgraded shares of Robinhood Markets from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price on shares of Robinhood Markets in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Robinhood Markets Trading Down 5.7%

HOOD stock traded down $4.27 during trading on Monday, reaching $70.61. 23,224,553 shares of the stock were exchanged, compared to its average volume of 26,953,168. The firm has a market cap of $62.53 billion, a P/E ratio of 44.76, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25. Robinhood Markets has a twelve month low of $13.98 and a twelve month high of $77.80. The firm’s 50 day moving average is $52.58 and its 200 day moving average is $47.54.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $927.00 million for the quarter, compared to the consensus estimate of $917.12 million. Robinhood Markets had a net margin of 47.81% and a return on equity of 13.53%. Robinhood Markets’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same period last year, the company posted $0.18 earnings per share. As a group, analysts predict that Robinhood Markets will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Robinhood Markets

In related news, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $43.36, for a total value of $253,786.08. Following the sale, the chief technology officer now owns 11,706 shares in the company, valued at approximately $507,572.16. The trade was a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Baiju Bhatt sold 223,528 shares of Robinhood Markets 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 sale, the director now owns 5,042 shares of the company’s stock, valued at $217,864.82. The trade was a 97.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,226,771 shares of company stock valued at $111,467,774. 14.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

Several institutional investors and hedge funds have recently made changes to their positions in HOOD. MetLife Investment Management LLC boosted its position in Robinhood Markets by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock worth $440,000 after purchasing an additional 171 shares in the last quarter. Cigna Investments Inc. New lifted its position in shares of Robinhood Markets by 2.7% during the first quarter. Cigna Investments Inc. New now owns 6,730 shares of the company’s stock worth $280,000 after purchasing an additional 174 shares in the last quarter. Hemington Wealth Management boosted its position in Robinhood Markets by 52.2% in the 1st quarter. Hemington Wealth Management now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the period. Dorsey & Whitney Trust CO LLC increased its holdings in Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock worth $368,000 after purchasing an additional 233 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Robinhood Markets by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company’s stock worth $290,000 after acquiring an additional 265 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.