Robinhood Markets (NASDAQ:HOOD) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Robinhood Markets (NASDAQ:HOOD) from an equal weight rating to an overweight rating in a report published on Monday, Marketbeat Ratings reports. The firm currently has $55.00 price target on the stock, up from their previous price target of $24.00.

A number of other analysts have also recently commented on the stock. JMP Securities upped their price target on shares of Robinhood Markets from $33.00 to $40.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods decreased their price objective on Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group cut their target price on Robinhood Markets from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on Robinhood Markets from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Robinhood Markets from $17.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and an average price target of $30.59.

Robinhood Markets Stock Up 3.3 %

Robinhood Markets stock opened at $37.85 on Monday. The firm has a 50 day moving average price of $27.27 and a 200-day moving average price of $23.14. Robinhood Markets has a twelve month low of $8.21 and a twelve month high of $39.74. The company has a market capitalization of $33.46 billion, a P/E ratio of 64.15, a P/E/G ratio of 0.85 and a beta of 1.84.

Robinhood Markets (NASDAQ:HOOD) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The firm had revenue of $637.00 million during the quarter, compared to the consensus estimate of $660.53 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 36.4% compared to the same quarter last year. Equities analysts expect that Robinhood Markets will post 0.74 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vladimir Tenev sold 250,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.26, for a total transaction of $4,815,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Meyer Malka sold 105,875 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $3,176,250.00. Following the transaction, the director now owns 28,930,243 shares in the company, valued at approximately $867,907,290. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,685,549 shares of company stock valued at $114,953,194. Insiders own 19.95% of the company’s stock.

Institutional Investors Weigh In On Robinhood Markets

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in 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 valued at $89,410,000 after purchasing an additional 3,817,355 shares during the period. Azora Capital LP purchased a new position in shares of Robinhood Markets during the third quarter valued at about $79,780,000. FMR LLC lifted its holdings in Robinhood Markets by 31.3% in the third quarter. FMR LLC now owns 14,129,544 shares of the company’s stock worth $330,914,000 after buying an additional 3,368,118 shares during the period. Renaissance Technologies LLC lifted its holdings in Robinhood Markets by 37.7% in the second 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 period. Finally, Geode Capital Management LLC boosted its position in Robinhood Markets by 19.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,620,673 shares of the company’s stock valued at $271,708,000 after acquiring an additional 1,895,427 shares in 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.