Robinhood Markets (NASDAQ:HOOD) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Robinhood Markets (NASDAQ:HOOD) from an underweight rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has $43.00 price target on the stock, up from their previous price target of $20.00.

HOOD has been the subject of a number of other reports. Barclays upgraded shares of Robinhood Markets from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $26.00 to $49.00 in a research note on Monday, December 9th. Citigroup boosted their price objective on shares of Robinhood Markets from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, September 27th. JMP Securities raised their target price on Robinhood Markets from $33.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 12th. Morgan Stanley upgraded Robinhood Markets from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $24.00 to $55.00 in a research note on Monday, November 25th. Finally, Sanford C. Bernstein raised their price objective on Robinhood Markets from $30.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.67.

Robinhood Markets Trading Up 0.6 %

Shares of HOOD stock opened at $40.81 on Tuesday. Robinhood Markets has a 12-month low of $10.38 and a 12-month high of $43.83. The business’s fifty day simple moving average is $36.67 and its 200-day simple moving average is $27.29. The company has a market cap of $36.08 billion, a PE ratio of 69.17, a PEG ratio of 0.81 and a beta of 2.07.

Robinhood Markets (NASDAQ:HOOD) last announced 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). The business had revenue of $637.00 million for the quarter, compared to analyst estimates of $660.53 million. Robinhood Markets had a net margin of 21.80% and a return on equity of 7.52%. The company’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) earnings per share. On average, equities analysts forecast that Robinhood Markets will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Jeffrey Tsvi Pinner sold 5,876 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $42.64, for a total transaction of $250,552.64. Following the completion of the transaction, the chief technology officer now directly owns 5,876 shares of the company’s stock, valued at $250,552.64. This represents a 50.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Baiju Bhatt sold 98,404 shares of Robinhood Markets stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.40, for a total transaction of $2,597,865.60. Following the completion of the sale, the director now directly owns 2,521 shares in the company, valued at $66,554.40. This represents a 97.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,708,196 shares of company stock valued at $138,845,043. Corporate insiders own 19.95% of the company’s stock.

Hedge Funds Weigh In On Robinhood Markets

A number of large investors have recently added to or reduced their stakes in HOOD. HM Payson & Co. lifted its position in shares of Robinhood Markets by 53.5% in the third quarter. HM Payson & Co. now owns 1,176 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares in the last quarter. Eastern Bank acquired a new stake in Robinhood Markets during the third quarter worth $30,000. True Wealth Design LLC purchased a new stake in Robinhood Markets in the third quarter valued at $30,000. ORG Wealth Partners LLC acquired a new stake in Robinhood Markets in the 3rd quarter valued at approximately $33,000. Finally, Connective Portfolio Management LLC acquired a new stake in shares of Robinhood Markets in the third quarter valued at $47,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.