Robinhood Markets (NASDAQ:HOOD) Price Target Raised to $21.00 at JPMorgan Chase & Co.

Robinhood Markets (NASDAQ:HOOD) had its price target raised by JPMorgan Chase & Co. from $17.00 to $21.00 in a report released on Thursday, Benzinga reports. They currently have an underweight rating on the stock.

Several other equities analysts also recently weighed in on the company. The Goldman Sachs Group lifted their target price on Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a research report on Monday. Bank of America lifted their target price on Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Citigroup lifted their target price on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. JMP Securities reiterated a “market outperform” rating and set a $30.00 target price on shares of Robinhood Markets in a research report on Thursday, August 8th. Finally, Piper Sandler reiterated an “overweight” rating and set a $27.00 target price on shares of Robinhood Markets in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.43.

Robinhood Markets Price Performance

Shares of HOOD opened at $26.32 on Thursday. Robinhood Markets has a one year low of $7.91 and a one year high of $27.33. The firm has a market capitalization of $23.13 billion, a P/E ratio of 175.47 and a beta of 1.84. The business has a fifty day moving average of $21.86 and a 200 day moving average of $20.77.

Robinhood Markets (NASDAQ:HOOD) last issued its quarterly earnings data 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 return on equity of 4.25% and a net margin of 12.96%. The company had revenue of $682.00 million during the quarter, compared to analyst estimates of $640.39 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. Robinhood Markets’s revenue was up 40.3% compared to the same quarter last year. Analysts expect that Robinhood Markets will post 0.76 EPS for the current fiscal year.

Insider Transactions at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total value of $2,696,071.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,541,250 shares of company stock valued at $107,643,767. 19.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Robinhood Markets

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in 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 acquiring an additional 1,003,535 shares during the last quarter. Renaissance Technologies LLC increased its stake in Robinhood Markets by 37.7% during the second quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after acquiring an additional 2,094,800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Robinhood Markets by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock worth $92,549,000 after acquiring an additional 112,967 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Robinhood Markets by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock valued at $54,749,000 after buying an additional 193,585 shares during the last quarter. Finally, Railway Pension Investments Ltd grew its stake in shares of Robinhood Markets by 52.6% during the first quarter. Railway Pension Investments Ltd now owns 2,393,031 shares of the company’s stock valued at $48,172,000 after buying an additional 825,307 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

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.