Robinhood Markets (NASDAQ:HOOD) Downgraded by Atlantic Securities to Underweight

Robinhood Markets (NASDAQ:HOODGet Rating) was downgraded by stock analysts at Atlantic Securities from a “neutral” rating to an “underweight” rating in a research report issued on Wednesday, The Fly reports.

A number of other analysts also recently commented on the company. Piper Sandler reduced their price objective on Robinhood Markets from $13.00 to $11.00 in a research report on Friday, April 29th. JPMorgan Chase & Co. reduced their price objective on Robinhood Markets from $11.00 to $7.00 in a research report on Tuesday. The Goldman Sachs Group cut Robinhood Markets from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $15.00 to $13.00 in a report on Friday, April 8th. Mizuho dropped their target price on Robinhood Markets from $19.00 to $14.00 in a report on Monday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Robinhood Markets from $11.00 to $10.00 in a report on Friday, April 29th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Robinhood Markets presently has a consensus rating of “Hold” and a consensus target price of $20.36.

Shares of HOOD stock opened at $7.23 on Wednesday. The stock has a 50 day moving average of $9.98 and a two-hundred day moving average of $13.42. Robinhood Markets has a 12 month low of $7.02 and a 12 month high of $85.00. The company has a market capitalization of $6.30 billion and a P/E ratio of -0.66.

Robinhood Markets (NASDAQ:HOODGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.52. Robinhood Markets had a negative return on equity of 39.39% and a negative net margin of 203.12%. The company had revenue of $299.00 million during the quarter, compared to the consensus estimate of $357.21 million. The company’s quarterly revenue was down 42.7% compared to the same quarter last year. On average, equities analysts expect that Robinhood Markets will post -1.33 EPS for the current year.

In related news, CEO Vladimir Tenev sold 115,026 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $10.14, for a total transaction of $1,166,363.64. Following the completion of the sale, the chief executive officer now directly owns 1,262,013 shares of the company’s stock, valued at approximately $12,796,811.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Baiju Bhatt sold 115,024 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $10.14, for a total value of $1,166,343.36. Following the sale, the insider now directly owns 249,765 shares of the company’s stock, valued at $2,532,617.10. The disclosure for this sale can be found here. Insiders have sold a total of 327,975 shares of company stock valued at $3,286,592 over the last ninety days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Robinhood Markets by 7,430.5% in the 1st quarter. Vanguard Group Inc. now owns 40,217,187 shares of the company’s stock valued at $543,334,000 after buying an additional 39,683,128 shares during the period. ARK Investment Management LLC increased its stake in shares of Robinhood Markets by 27.3% in the 1st quarter. ARK Investment Management LLC now owns 30,353,313 shares of the company’s stock valued at $410,073,000 after buying an additional 6,505,389 shares during the period. Ribbit Capital GP II Ltd. acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at $470,317,000. Nikko Asset Management Americas Inc. increased its stake in shares of Robinhood Markets by 58.0% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 22,925,406 shares of the company’s stock valued at $313,203,000 after buying an additional 8,412,905 shares during the period. Finally, Thrive Capital Management LLC acquired a new stake in shares of Robinhood Markets in the 3rd quarter valued at $858,893,000. 64.46% of the stock is owned by institutional investors.

About Robinhood Markets (Get Rating)

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 also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron’s, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade.

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