Robinhood Markets (NASDAQ:HOOD) Downgraded to “Equal Weight” Rating by Morgan Stanley

Robinhood Markets (NASDAQ:HOOD) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have a $40.00 target price on the stock. Morgan Stanley’s price objective would suggest a potential downside of 5.24% from the stock’s current price.

Several other equities analysts also recently commented on HOOD. Citigroup dropped their target price on Robinhood Markets from $60.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Barclays lowered their target price on Robinhood Markets from $76.00 to $45.00 and set an “overweight” rating for the company in a report on Monday. JMP Securities raised their price target on shares of Robinhood Markets from $60.00 to $77.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Piper Sandler upped their target price on Robinhood Markets from $54.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, KeyCorp lifted their price target on Robinhood Markets from $57.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Robinhood Markets presently has an average rating of “Moderate Buy” and an average price target of $55.06.

Robinhood Markets Trading Up 23.5 %

HOOD stock opened at $42.21 on Tuesday. The business’s 50 day simple moving average is $46.85 and its 200 day simple moving average is $39.23. The firm has a market capitalization of $37.38 billion, a PE ratio of 26.89, a PEG ratio of 1.05 and a beta of 2.17. Robinhood Markets has a 1-year low of $13.98 and a 1-year high of $66.91.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Robinhood Markets had a return on equity of 13.53% and a net margin of 47.81%. As a group, sell-side analysts predict that Robinhood Markets will post 1.35 EPS for the current fiscal year.

Insider Activity

In related news, insider Daniel Martin Gallagher, Jr. sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $38.31, for a total value of $957,750.00. Following the sale, the insider now directly owns 822,825 shares of the company’s stock, valued at $31,522,425.75. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jeffrey Tsvi Pinner sold 5,853 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was 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 approximately $201,987.03. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,651,987 shares of company stock worth $132,806,233 in the last three months. Corporate insiders own 19.95% of the company’s stock.

Institutional Trading of Robinhood Markets

Hedge funds have recently made changes to their positions in the stock. MetLife Investment Management LLC increased its stake in Robinhood Markets by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,806 shares of the company’s stock valued at $440,000 after acquiring an additional 171 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Robinhood Markets by 2.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,867 shares of the company’s stock valued at $368,000 after purchasing an additional 233 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Robinhood Markets by 7.8% during the 4th quarter. First Horizon Advisors Inc. now owns 3,822 shares of the company’s stock valued at $142,000 after buying an additional 277 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Robinhood Markets by 139.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 854 shares of the company’s stock worth $36,000 after buying an additional 498 shares during the last quarter. Finally, Spire Wealth Management boosted its stake in Robinhood Markets by 104.6% in the fourth quarter. Spire Wealth Management now owns 1,074 shares of the company’s stock worth $40,000 after buying an additional 549 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.