Piper Sandler Boosts Robinhood Markets (NASDAQ:HOOD) Price Target to $27.00

Robinhood Markets (NASDAQ:HOOD) had its price target hoisted by Piper Sandler from $23.00 to $27.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

HOOD has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Robinhood Markets from a hold rating to a buy rating and increased their target price for the stock from $21.00 to $24.00 in a report on Thursday, August 15th. 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 report on Monday, August 5th. Bank of America upped their price target on shares of Robinhood Markets from $28.00 to $32.00 and gave the stock a buy rating in a research report on Monday, August 12th. KeyCorp upped their price target on shares of Robinhood Markets from $23.00 to $25.00 and gave the stock an overweight rating in a research report on Friday, July 19th. Finally, Morgan Stanley upped their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the stock an equal weight rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $23.10.

Robinhood Markets Stock Down 0.4 %

Robinhood Markets stock opened at $22.73 on Thursday. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.88. The company has a 50 day moving average of $20.59 and a 200-day moving average of $19.95. The stock has a market capitalization of $19.98 billion, a PE ratio of 151.53 and a beta of 1.82.

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

Insider Buying and Selling

In other Robinhood Markets news, Director Baiju Bhatt sold 139,916 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $19.55, for a total transaction of $2,735,357.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $22.80, for a total transaction of $285,000.00. Following the sale, the insider now directly owns 956,247 shares in the company, valued at $21,802,431.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Baiju Bhatt sold 139,916 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $19.55, for a total transaction of $2,735,357.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,204,096 shares of company stock valued at $23,603,793. 19.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Robinhood Markets

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Robinhood Markets by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 56,828,633 shares of the company’s stock valued at $1,143,960,000 after purchasing an additional 1,003,535 shares in the last quarter. Renaissance Technologies LLC boosted 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 in the last quarter. Norges Bank acquired a new stake in shares of Robinhood Markets in the 4th quarter valued at approximately $84,165,000. Dimensional Fund Advisors LP boosted its stake in shares of Robinhood Markets by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,673,579 shares of the company’s stock valued at $59,559,000 after purchasing an additional 672,648 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Robinhood Markets by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock valued at $54,749,000 after purchasing an additional 193,585 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Robinhood Markets Company Profile

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.