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

Robinhood Markets (NASDAQ:HOOD) had its price target boosted by analysts at KeyCorp from $25.00 to $30.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 9.45% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Robinhood Markets from $22.50 to $25.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Bank of America lifted their price objective on shares of Robinhood Markets from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, August 12th. Piper Sandler reiterated an “overweight” rating and set a $27.00 price target on shares of Robinhood Markets in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Robinhood Markets from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Robinhood Markets from $17.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.97.

Robinhood Markets Stock Performance

Robinhood Markets stock opened at $27.41 on Monday. The company’s 50 day simple moving average is $22.20 and its 200-day simple moving average is $20.91. The company has a market capitalization of $24.09 billion, a price-to-earnings ratio of 182.73 and a beta of 1.84. Robinhood Markets has a 1 year low of $7.91 and a 1 year high of $27.60.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results 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. The business had revenue of $682.00 million for the quarter, compared to the consensus estimate of $640.39 million. Robinhood Markets had a net margin of 12.96% and a return on equity of 4.25%. The business’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. Equities analysts expect that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $19.33, for a total value of $241,625.00. Following the completion of the sale, the insider now owns 1,045,068 shares in the company, valued at $20,201,164.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Robinhood Markets news, insider Daniel Martin Gallagher, Jr. sold 23,293 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $23.42, for a total transaction of $545,522.06. Following the completion of the transaction, the insider now owns 1,070,000 shares in the company, valued at approximately $25,059,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Martin Gallagher, Jr. sold 12,500 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total transaction of $241,625.00. Following the transaction, the insider now owns 1,045,068 shares of the company’s stock, valued at approximately $20,201,164.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,639,654 shares of company stock worth $110,241,632. 19.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Robinhood Markets by 1.8% during the 1st 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. Renaissance Technologies LLC raised its position in Robinhood Markets by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 7,651,700 shares of the company’s stock worth $173,770,000 after buying an additional 2,094,800 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Robinhood Markets by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,075,468 shares of the company’s stock worth $92,549,000 after buying an additional 112,967 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Robinhood Markets by 1,211,858.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock worth $89,410,000 after purchasing an additional 3,817,355 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Robinhood Markets by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,410,791 shares of the company’s stock worth $54,749,000 after purchasing an additional 193,585 shares during the period. 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.