Robinhood Markets (NASDAQ:HOOD) Given New $40.00 Price Target at JMP Securities

Robinhood Markets (NASDAQ:HOOD) had its price objective upped by JMP Securities from $33.00 to $40.00 in a research note published on Tuesday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other analysts also recently commented on HOOD. Barclays boosted their target price on shares of Robinhood Markets from $23.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research note on Thursday, October 31st. The Goldman Sachs Group cut their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Citigroup increased their price target on Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.10.

Robinhood Markets Stock Performance

Shares of NASDAQ HOOD opened at $33.00 on Tuesday. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $34.32. The stock has a fifty day moving average price of $24.69 and a two-hundred day moving average price of $22.05. The firm has a market cap of $29.17 billion, a P/E ratio of 55.93, a PEG ratio of 0.79 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $660.53 million. During the same period in the prior year, the business earned ($0.09) EPS. The company’s quarterly revenue was up 36.4% compared to the same quarter last year. On average, research analysts predict that Robinhood Markets will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Robinhood Markets

In other Robinhood Markets 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 completion of the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Vladimir Tenev sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of Robinhood Markets stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,045,068 shares of the company’s stock, valued at $20,201,164.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,710,549 shares of company stock worth $115,477,194. 19.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position 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 buying an additional 1,003,535 shares during the last quarter. Baker Avenue Asset Management LP increased its holdings in shares of Robinhood Markets by 77.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 464,306 shares of the company’s stock valued at $10,874,000 after acquiring an additional 203,354 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Robinhood Markets by 87.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,800 shares of the company’s stock valued at $117,000 after acquiring an additional 2,700 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Robinhood Markets by 146.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,161,240 shares of the company’s stock worth $27,196,000 after purchasing an additional 690,467 shares during the last quarter. Finally, O Neil Global Advisors Inc. bought a new stake in Robinhood Markets during the second quarter worth approximately $2,298,000. Institutional investors own 93.27% of the company’s stock.

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.