Robinhood Markets (NASDAQ:HOOD) PT Raised to $21.00 at JPMorgan Chase & Co.

Robinhood Markets (NASDAQ:HOOD) had its target price raised by JPMorgan Chase & Co. from $17.00 to $21.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Robinhood Markets in a report on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and issued a $27.00 target price on shares of Robinhood Markets in a research note on Tuesday, October 8th. Citigroup boosted their price target on Robinhood Markets from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Keefe, Bruyette & Woods cut their target price on shares of Robinhood Markets from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Robinhood Markets in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.43.

Robinhood Markets Stock Performance

NASDAQ:HOOD opened at $26.83 on Thursday. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 178.87 and a beta of 1.84. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $27.33. The firm has a 50-day moving average price of $22.03 and a two-hundred day moving average price of $20.85.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The company had revenue of $682.00 million during 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%. Robinhood Markets’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. As a group, sell-side analysts forecast that Robinhood Markets will post 0.76 earnings per share for the current year.

Insider Transactions at Robinhood Markets

In related news, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $18.73, for a total transaction of $2,696,071.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Baiju Bhatt sold 143,944 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $18.73, for a total value of $2,696,071.12. The sale was disclosed in a legal 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 firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $19.33, for a total value of $241,625.00. Following the transaction, the insider now directly owns 1,045,068 shares in the company, 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. Over the last quarter, insiders have sold 4,541,250 shares of company stock valued at $107,643,767. 19.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Robinhood Markets

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its holdings in Robinhood Markets by 1,211,858.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,817,670 shares of the company’s stock valued at $89,410,000 after buying an additional 3,817,355 shares in the last quarter. Raymond James & Associates boosted its position in shares of Robinhood Markets by 76.6% in the third quarter. Raymond James & Associates now owns 99,278 shares of the company’s stock worth $2,325,000 after acquiring an additional 43,075 shares during the last quarter. Blue Trust Inc. grew its position in Robinhood Markets by 183.6% during the third quarter. Blue Trust Inc. now owns 22,938 shares of the company’s stock valued at $521,000 after acquiring an additional 14,849 shares during the period. Aspiriant LLC acquired a new stake in shares of Robinhood Markets in the third quarter valued at about $985,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Robinhood Markets during the third quarter worth about $851,000. Institutional investors and hedge funds 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.