Robinhood Markets (NASDAQ:HOOD) Upgraded by Barclays to Equal Weight

Barclays upgraded shares of Robinhood Markets (NASDAQ:HOOD) from an underweight rating to an equal weight rating in a report published on Friday morning, Marketbeat.com reports. Barclays currently has $20.00 price target on the stock, up from their previous price target of $18.00.

A number of other brokerages also recently weighed in on HOOD. JMP Securities reissued a market outperform rating and issued a $30.00 price target on shares of Robinhood Markets in a report on Thursday, August 8th. Citigroup upgraded shares of Robinhood Markets from a sell rating to a neutral rating and set a $18.00 target price for the company in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft upgraded Robinhood Markets from a hold rating to a buy rating and raised their price objective for the stock from $21.00 to $24.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on Robinhood Markets from $16.00 to $17.00 and gave the company an underweight rating in a research report on Thursday, August 8th. Finally, Bank of America raised their target price on Robinhood Markets from $28.00 to $32.00 and gave the stock a buy rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $22.83.

Robinhood Markets Trading Down 3.7 %

NASDAQ HOOD opened at $18.94 on Friday. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $24.88. The company has a fifty day simple moving average of $20.75 and a 200 day simple moving average of $19.51. The company has a market cap of $16.65 billion, a P/E ratio of 126.27 and a beta of 1.82.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. Robinhood Markets had a return on equity of 4.25% and a net margin of 12.96%. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s revenue was up 40.3% compared to the same quarter last year. Equities research analysts forecast that Robinhood Markets will post 0.76 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Robinhood Markets news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $16.05, for a total value of $4,012,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Baiju Bhatt sold 121,226 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $21.63, for a total transaction of $2,622,118.38. The disclosure for this sale can be found here. Insiders have sold 1,185,406 shares of company stock valued at $23,490,554 in the last three months. 19.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Robinhood Markets

Several hedge funds and other institutional investors have recently made changes to their positions in HOOD. Vanguard Group Inc. raised its stake in shares of Robinhood Markets by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock worth $1,143,960,000 after buying an additional 1,003,535 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of Robinhood Markets by 9.6% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after acquiring an additional 2,486,986 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Robinhood Markets by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock valued at $173,770,000 after purchasing an additional 2,094,800 shares during the period. Norges Bank bought a new position in shares of Robinhood Markets in the 4th quarter worth $84,165,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Robinhood Markets by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,673,579 shares of the company’s stock worth $59,559,000 after purchasing an additional 672,648 shares during the period. 93.27% of the stock is 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.