Robinhood Markets (NASDAQ:HOOD) PT Raised to $20.00

Robinhood Markets (NASDAQ:HOOD) had its price objective boosted by equities researchers at Barclays from $18.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price target would suggest a potential downside of 9.26% from the company’s current price.

HOOD has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their target price on Robinhood Markets from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, June 20th. Morgan Stanley boosted their price target on Robinhood Markets from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Mizuho boosted their price target on Robinhood Markets from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Bank of America raised Robinhood Markets from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $24.00 in a research report on Friday, May 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Robinhood Markets in a research report on Friday, June 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.10.

Robinhood Markets Stock Down 1.3 %

Shares of NASDAQ HOOD opened at $22.04 on Wednesday. The business has a fifty day simple moving average of $21.03 and a two-hundred day simple moving average of $17.06. The firm has a market cap of $19.37 billion, a PE ratio of 146.93 and a beta of 1.84. Robinhood Markets has a twelve month low of $7.91 and a twelve month high of $24.28.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. The business had revenue of $618.00 million during the quarter, compared to analyst estimates of $552.74 million. Robinhood Markets had a return on equity of 1.86% and a net margin of 6.22%. Robinhood Markets’s revenue was up 40.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.57) EPS. On average, research analysts expect that Robinhood Markets will post 0.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Vladimir Tenev sold 250,000 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $22.50, for a total value of $5,625,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $17.83, for a total value of $222,875.00. Following the completion of the transaction, the insider now owns 854,995 shares of the company’s stock, valued at approximately $15,244,560.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $22.50, for a total value of $5,625,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,494,233 shares of company stock valued at $29,762,641. 19.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robinhood Markets

Hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise raised its holdings in shares of Robinhood Markets by 21,404.0% during the first quarter. Banque Cantonale Vaudoise now owns 96,768 shares of the company’s stock valued at $1,948,000 after acquiring an additional 96,318 shares during the last quarter. Gulf International Bank UK Ltd acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $764,000. Wellington Management Group LLP acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $8,299,000. Strs Ohio acquired a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $750,000. Finally, Oak Thistle LLC increased its holdings in shares of Robinhood Markets by 131.6% in the fourth quarter. Oak Thistle LLC now owns 105,295 shares of the company’s stock valued at $1,341,000 after purchasing an additional 59,834 shares during the last quarter. Institutional investors and hedge funds 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.