Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $22.00

Robinhood Markets (NASDAQ:HOOD) had its target price raised by Morgan Stanley from $21.00 to $22.00 in a report released on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the company. KeyCorp upped their target price on Robinhood Markets from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Barclays increased their price objective on Robinhood Markets from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 target price for the company in a research note on Wednesday, June 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Robinhood Markets in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.43.

Robinhood Markets Stock Up 1.9 %

Shares of HOOD stock opened at $26.83 on Thursday. The stock has a market cap of $23.58 billion, a P/E ratio of 178.87 and a beta of 1.84. Robinhood Markets has a fifty-two week low of $7.91 and a fifty-two week high of $27.33. The business has a fifty day simple moving average of $22.03 and a 200-day simple moving average of $20.84.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $682.00 million for the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The firm’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. On average, sell-side analysts anticipate that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In other news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now owns 1,045,068 shares in the company, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven M. Quirk sold 208,291 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.98, for a total value of $5,203,109.18. Following the completion of the sale, the insider now owns 346,020 shares of the company’s stock, valued at approximately $8,643,579.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,541,250 shares of company stock worth $107,643,767 in the last three months. 19.95% of the stock is currently owned by company insiders.

Institutional Trading of Robinhood Markets

Several large investors have recently bought and sold shares of the company. Angeles Wealth Management LLC lifted its position in shares of Robinhood Markets by 5.3% during the first quarter. Angeles Wealth Management LLC now owns 12,207 shares of the company’s stock worth $246,000 after purchasing an additional 610 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Robinhood Markets by 44.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,290 shares of the company’s stock worth $52,000 after buying an additional 710 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the last quarter. Whittier Trust Co. boosted its position in Robinhood Markets by 25.8% in the 1st quarter. Whittier Trust Co. now owns 5,828 shares of the company’s stock valued at $117,000 after buying an additional 1,194 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Robinhood Markets during the third quarter valued at about $33,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.