Deutsche Bank Aktiengesellschaft Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $27.00

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $24.00 to $27.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a market perform rating on the stock in a research note on Thursday, August 8th. Wolfe Research raised Robinhood Markets from a peer perform rating to an outperform rating and set a $29.00 price target on the stock in a research note on Wednesday, June 26th. Piper Sandler upped their price objective on Robinhood Markets from $23.00 to $27.00 and gave the company an overweight rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. raised their price objective on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an underweight rating in a report on Thursday, August 8th. Finally, Needham & Company LLC restated a hold rating on shares of Robinhood Markets in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Robinhood Markets has a consensus rating of Hold and an average price target of $23.63.

Robinhood Markets Trading Down 0.9 %

NASDAQ HOOD opened at $22.43 on Monday. The firm’s 50 day simple moving average is $20.50 and its 200 day simple moving average is $20.30. The firm has a market capitalization of $19.71 billion, a price-to-earnings ratio of 149.53 and a beta of 1.84. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $24.88.

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 analyst estimates of $640.39 million. During the same quarter last year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, equities research analysts forecast that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jason Warnick sold 25,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $20.96, for a total transaction of $524,000.00. Following the completion of the sale, the chief financial officer now owns 1,077,162 shares of the company’s stock, valued at $22,577,315.52. The disclosure for this sale can be found here. Insiders have sold 964,889 shares of company stock valued at $18,239,315 in the last ninety days. 19.95% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Robinhood Markets by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after acquiring an additional 1,003,535 shares during the period. Banque Cantonale Vaudoise raised its holdings in Robinhood Markets by 21,404.0% during the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock worth $1,948,000 after buying an additional 96,318 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in shares of Robinhood Markets by 87.1% in the first quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after buying an additional 2,700 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Robinhood Markets during the fourth quarter valued at about $8,299,000. Finally, O Neil Global Advisors Inc. bought a new stake in shares of Robinhood Markets during the second quarter worth about $2,298,000. 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.