Robinhood Markets (NASDAQ:HOOD) PT Raised to $30.00

Robinhood Markets (NASDAQ:HOOD) had its price objective hoisted by stock analysts at KeyCorp from $25.00 to $30.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 11.82% from the stock’s current price.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group raised 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. Wolfe Research upgraded Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research report on Wednesday, June 26th. Barclays upped their price objective on Robinhood Markets from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Citigroup raised their target price on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Finally, Morgan Stanley boosted their price target on shares of Robinhood Markets from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday. One equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.77.

Robinhood Markets Stock Up 1.9 %

Shares of HOOD opened at $26.83 on Monday. The business has a 50-day simple moving average of $22.03 and a two-hundred day simple moving average of $20.85. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $27.33. The stock has a market cap of $23.58 billion, a price-to-earnings ratio of 178.87 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $640.39 million. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue was up 40.3% on a year-over-year basis. On average, equities analysts anticipate that Robinhood Markets will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Robinhood Markets news, Director Meyer Malka sold 3,225,806 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.07, for a total value of $80,870,956.42. Following the transaction, the director now directly owns 29,357,336 shares in the company, valued at $735,988,413.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meyer Malka sold 3,225,806 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $25.07, for a total transaction of $80,870,956.42. Following the transaction, the director now owns 29,357,336 shares in the company, valued at approximately $735,988,413.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,541,250 shares of company stock valued at $107,643,767 in the last 90 days. Company insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Hedge funds have recently modified their holdings of the business. ORG Wealth Partners LLC bought a new position in Robinhood Markets in the third quarter worth approximately $33,000. ORG Partners LLC purchased a new position in shares of Robinhood Markets in the 2nd quarter valued at $33,000. Allspring Global Investments Holdings LLC bought a new position in shares of Robinhood Markets in the 1st quarter worth $34,000. International Assets Investment Management LLC purchased a new stake in shares of Robinhood Markets during the 2nd quarter worth $40,000. Finally, Opal Wealth Advisors LLC bought a new stake in Robinhood Markets during the second quarter valued at about $45,000. Hedge funds and other institutional investors 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.