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

Robinhood Markets (NASDAQ:HOOD) had its target price boosted by Barclays from $18.00 to $20.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective indicates a potential downside of 9.26% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler boosted their target price on shares of Robinhood Markets from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Robinhood Markets in a research report on Thursday, June 6th. Keefe, Bruyette & Woods initiated coverage on shares of Robinhood Markets in a research report on Wednesday, April 3rd. They issued a “market perform” rating and a $20.00 target price for the company. Wolfe Research raised shares of Robinhood Markets from a “peer perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a research report on Wednesday, June 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Robinhood Markets from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Robinhood Markets has a consensus rating of “Hold” and a consensus price target of $21.10.

Robinhood Markets Price Performance

HOOD stock opened at $22.04 on Wednesday. The company has a fifty day moving average price of $21.03 and a two-hundred day moving average price of $17.06. Robinhood Markets has a one year low of $7.91 and a one year high of $24.28. The stock has a market cap of $19.37 billion, a price-to-earnings ratio of 146.93 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. The firm had revenue of $618.00 million during the quarter, compared to analysts’ expectations of $552.74 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.57) earnings per share. Research analysts anticipate that Robinhood Markets will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Baiju Bhatt sold 153,180 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.63, for a total value of $2,547,383.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Jason Warnick sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $16.72, for a total value of $83,600.00. Following the transaction, the chief financial officer now directly owns 997,407 shares in the company, valued at approximately $16,676,645.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Baiju Bhatt sold 153,180 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $16.63, for a total value of $2,547,383.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,494,233 shares of company stock valued at $29,762,641. 19.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Robinhood Markets in the 4th quarter valued at $84,165,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Robinhood Markets by 9.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,205,693 shares of the company’s stock valued at $372,081,000 after buying an additional 2,517,012 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in Robinhood Markets by 9.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 28,297,822 shares of the company’s stock valued at $360,514,000 after buying an additional 2,486,986 shares during the last quarter. Vanguard Group Inc. raised its position in Robinhood Markets by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 57,261,184 shares of the company’s stock valued at $561,732,000 after buying an additional 2,459,702 shares during the last quarter. Finally, ARK Investment Management LLC raised its position in Robinhood Markets by 6.4% in the 4th quarter. ARK Investment Management LLC now owns 34,936,204 shares of the company’s stock valued at $445,087,000 after buying an additional 2,101,325 shares during the last quarter. 93.27% of the stock is currently 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.