Robinhood Markets (NASDAQ:HOOD) Given “Neutral” Rating at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Robinhood Markets (NASDAQ:HOOD) in a research report report published on Thursday, Benzinga reports. They currently have a $20.00 target price on the stock.

Other research analysts also recently issued research reports about the company. Citigroup upgraded Robinhood Markets from a sell rating to a neutral rating and set a $18.00 price target on the stock in a research note on Monday. The Goldman Sachs Group lifted their target price on shares of Robinhood Markets from $19.00 to $21.00 and gave the company a neutral rating in a report on Thursday, July 11th. Mizuho upped their price target on shares of Robinhood Markets from $20.00 to $21.00 and gave the company a buy rating in a research report on Monday, May 6th. JMP Securities reissued a market outperform rating and set a $30.00 price objective on shares of Robinhood Markets in a research report on Friday, June 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $16.00 to $17.00 and gave the company an underweight rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $21.70.

Robinhood Markets Stock Up 1.1 %

Robinhood Markets stock traded up $0.19 during mid-day trading on Thursday, hitting $17.92. The company had a trading volume of 17,129,013 shares, compared to its average volume of 16,360,838. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $24.88. The business has a fifty day moving average of $21.73 and a 200 day moving average of $18.36. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of 119.47 and a beta of 1.83.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The firm had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $640.39 million. Robinhood Markets had a net margin of 6.22% and a return on equity of 1.86%. During the same period in the previous year, the company earned $0.03 earnings per share. Robinhood Markets’s quarterly revenue was up 40.3% compared to the same quarter last year. Equities analysts anticipate that Robinhood Markets will post 0.57 earnings per share for the current year.

Insider Buying and Selling at Robinhood Markets

In other news, CEO Vladimir Tenev sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Monday, August 5th. The stock was sold at an average price of $16.05, for a total transaction of $4,012,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 120,236 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $22.20, for a total transaction of $2,669,239.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,247,913 shares of company stock valued at $25,680,423. Corporate insiders own 19.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HOOD. ORG Partners LLC purchased a new stake in Robinhood Markets during the 2nd quarter worth about $33,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Robinhood Markets in the first quarter valued at approximately $34,000. International Assets Investment Management LLC purchased a new position in shares of Robinhood Markets during the second quarter valued at approximately $40,000. Opal Wealth Advisors LLC acquired a new stake in Robinhood Markets during the second quarter worth approximately $45,000. Finally, Spire Wealth Management purchased a new stake in Robinhood Markets in the 4th quarter worth approximately $26,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.